These Regulations may be cited as the Community Benefit Societies (Restriction on Use of Assets) Regulations 2006 and come into force on 6^th April 2006.

For the purposes of these Regulations—

• “the 2003 Act” means the Co-operatives and Community Benefit Societies Act 2003;

• “the Authority” means the Financial Services Authority;

• “charity” –

  1. a

     in relation to a society whose registered office is situated in England and Wales, has the same meaning as in the Charities Act 19932; and

  2. b

     in relation to a society whose registered office is situated in Scotland, means a body established for charitable purposes only (that expression having the same meaning as in the Income Tax Acts3);

• “committee” and “officer” have the meaning given by section 74(1) of the 1965 Act4(interpretation – general);

• “community benefit society” has the meaning given by section 1(9) of the 2003 Act;

• “community interest company” has the meaning given by section 26 of the Companies (Audit, Investigations and Community Enterprise) Act 20045;

• “prescribed community benefit society” means a community benefit society of the kinds prescribed by regulation 5;

• “registered social landlord” means—

  1. a

     a housing association registered in the register maintained by the Housing Corporation or the Secretary of State under section 1 of the Housing Act 19966; or

  2. b

     in Scotland, a body registered in the register maintained by the Scottish Ministers under section 57 of the Housing (Scotland) Act 20017;

• “a restriction on use” means a rule included in the rules of a prescribed community benefit society which is in the terms set out in Schedule 1.