Textual Amendments
F1Pt. 3B inserted (E.W.S.) (29.11.2018 for specified purposes, 1.4.2019 in so far as not already in force) by The Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018 (S.I. 2018/1253), art. 1(2)(3), 7
(1) There is excluded from articles 89G to 89M any activity carried on by a charity or a not-for-profit agency.
(2) In this article “charity” means—
(a)a charity as defined by section 1(1) of the Charities Act 2011 or the Charities and Trustee Investment (Scotland) Act 2005; or
(b)a body registered in the Scottish Charity Register.
(3) In this article “not-for-profit agency” means a body that by or under its constitution—
(a)is required to apply the whole of its net income, and any expendable capital, after payment of outgoings for charitable or public purposes; and
(b)is prohibited from distributing, directly or indirectly, any part of its net income by way of profits or its assets among any of its members.
(4) But a body is not prevented from being a not-for-profit agency for the purposes of paragraph (3) if its constitution permits—
(a)the payment, out of the body’s funds, of reasonable and proper remuneration for goods or services supplied to the body by a member; or
(b)in the case of a not-for-profit body that is a charity, the payment to a member to which the member is eligible because that member is a beneficiary of the charity; or
(c)the purchase, out of the body’s funds, of indemnity insurance for trustees of the body.]