PART 3Requirements concerning the memorandum and articles

Alternative provisions9

1

For paragraph 1(4)(a) of the provisions prescribed by Schedule 1, 2 or 3 a community interest company may substitute—

  • “charitable body” means a charity, Scottish charity or a body established outside Great Britain that is equivalent to any of those persons;

2

If a community interest company makes the substitution permitted by paragraph (1), it must also for every reference to “asset-locked body” in paragraph 1(2) of the provisions prescribed by Schedule 1, 2 or 3 substitute a reference to “charitable body”.