Sch 4C para 3
(1) For the purposes of this Schedule a “community organisation” is a body corporate— (a) which is established for the express purpose of furthering the social, economic and environmental well-being of individuals living, or wanting to live, in a particular area, and (b) which meets such other conditions in relation to its establishment or constitution as may be prescribed. (2) Regulations under sub-paragraph (1)(b) may make provision in relation to— (a) the distribution of profits made by the body to its members, (b) the distribution of the assets of the body (in the event of its winding up or in any other circumstances), (c) the membership of the body, and (d) the control of the body (whether by the exercise of voting rights or otherwise).