Section 187(3)

The first condition is that the body or organisation, by virtue of its constitution or an enactment— is required (after payment of outgoings) to apply the whole of its income and any capital it expends for charitable or public purposes, is prohibited from directly or indirectly distributing amongst its members any part of its assets (otherwise than for charitable or public purposes), and has objectives which are in the public interest.

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Source: legislation.gov.uk · retrieved 2026-09-04