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Housing and Regeneration Act 2008
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Changes over time for: Section 115
Version Superseded: 20/09/2023
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- 01/04/2010- Amendment
- 06/04/2017- Amendment
- 06/04/2017
Point in time - 20/09/2023- Amendment
- 01/04/2024- Amendment
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115Profit-making and non-profit organisationsE+W
This section has no associated Explanatory Notes
(1)Each entry in the register shall designate the body registered as either—
(a)a non-profit organisation, or
(b)a profit-making organisation.
(2)A body is a non-profit organisation if it is a registered or non-registrable charity.
(3)A body is also a non-profit organisation if it satisfies the following conditions.
(4)Condition 1 is that the body—
(a)does not trade for profit, or
(b)is prohibited by its constitution from issuing capital with interest or dividend at a rate exceeding that prescribed under section 1(1)(b) of the Housing Associations Act 1985 (c. 69).
(5)Condition 2 is that a purpose of the body is the provision or management of housing.
(6)Condition 3 is that any other purposes of the body are connected with or incidental to the provision of housing.
(7)The Secretary of State may make regulations providing that a specified purpose is to be, or not to be, treated as connected with or incidental to the provision of housing.
(8)A body which is not a non-profit organisation under subsection (2) or (3) is a profit-making organisation.
(9)If the regulator thinks that what was a profit-making organisation has become a non-profit organisation [F1or vice versa], the regulator must change the registered designation accordingly.
[F2(10)Subsection (1) does not apply to the entry of a local authority in the register (and, accordingly, references to “profit-making” and “non-profit” in connection with a registered provider do not refer to a local authority).]
Textual Amendments
F1Words in s. 115(9) inserted (6.4.2017) by Housing and Planning Act 2016 (c. 22), s. 216(3), Sch. 4 para. 23; S.I. 2017/75, reg. 4
F2S. 115(10) inserted (1.4.2010) by The Housing and Regeneration Act 2008 (Registration of Local Authorities) Order 2010 (S.I. 2010/844), art. 1(2), Sch. 1 para. 14
Commencement Information
I1S. 115 in force at 1.4.2010 by S.I. 2010/862, art. 2 (with Sch.)
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