This section has effect for the purposes of this Part.

A company satisfies the community interest test if a reasonable person might consider that its activities are being carried on for the benefit of the community.

An object stated in the memorandum of a company is a community interest object of the company if a reasonable person might consider that the carrying on of activities by the company in furtherance of the object is for the benefit of the community.

Regulations may provide that activities of a description prescribed by the regulations are to be treated as being, or as not being, activities which a reasonable person might consider are activities carried on for the benefit of the community.

“Community” includes a section of the community (whether in Great Britain or anywhere else); and regulations may make provision about what does, does not or may constitute a section of the community.

A company is an excluded company if it is a company of a description prescribed by regulations.