Sch 11 para 18
The securities are issued by— (a) a charity within the meaning of— (i) section 96(1) of the Charities Act 1993, or (ii) section 35 of the Charities Act (Northern Ireland) 1964, (b) a recognised body within the meaning of section 1(7) of the Law Reform (Miscellaneous Provisions) (Scotland) Act 1990, (c) a housing association within the meaning of— (i) section 5(1) of the Housing Act 1985, (ii) section 1 of the Housing Associations Act 1985, or (iii) Article 3 of the Housing (Northern Ireland) Order 1992, (d) an industrial or provident society registered in accordance with— (i) section 1(2)(b) of the Industrial and Provident Societies Act 1965, or (ii) section 1(2)(b) of the Industrial and Provident Societies Act 1969, or (e) a non-profit making association or body, recognised by the country or territory in which it is established, with objectives similar to those of a body falling within any of paragraphs (a) to (c), and the proceeds of the offer will be used for the purposes of the issuer’s objectives.