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Housing and Regeneration Act 2008

Section 115 - Profit-making and non-profit organisations

245.Subsection (1) of this section provides that the register kept under section 111 must designate each registered person as either a non-profit organisation or a profit-making organisation. The restriction in section 2(2) of the 1996 Act that requires RSLs to be non-profit making is not replicated.

246.Subsections (2) to (6) define a non-profit organisation.

247.Subsection (2) specifies a registered or non-registrable charity as a non-profit organisation.

248.Subsection (3) specifies that a body is also a non-profit organisation if it meets the conditions specified in subsections (4) to (6). These conditions are-

  • that it does not trade for profit or that its constitution prohibits it from issuing capital with interest or dividend in excess of the specified rate (this condition

replicates the definition of non-profit organisation in section 2(3) of the 1996 Act); and

  • a purpose of the body is the provision or management of housing; and

  • any other purposes of the body are connected with or incidental to the provision of housing.

249.Subsection (7) gives the Secretary of State the power to make regulations providing that a specified purpose is, or is not, connected with or incidental to the provision of housing.

250.Subsection (8) defines a profit-making organisation as any organisation which is not a non-profit organisation.

251.These definitions are the basis on which the regulator will make the designation in the register provided for in subsection (1).

252.Subsection (9) requires the regulator to change the designation in the register where a profit-making organisation becomes a non-profit organisation as defined in this section.

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