1.6 Public Benefit: Difference between revisions
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Unlike registered charities, community benefit registered societies such as Freegle have to benefit the community. The Co-operative and Community Benefit Societies Act 2014 doesn’t define what ‘community benefit is, but the FCA offers this interpretation: | Unlike registered charities, community benefit registered societies such as Freegle have to benefit the community. The Co-operative and Community Benefit Societies Act 2014 doesn’t define what ‘community benefit is, but the FCA offers this interpretation: | ||
''“A community benefit society must be carrying on an ‘industry, business or trade’. That business industry or trade must be ‘being, or intended to be, conducted for the benefit of the community’. This is the condition for registration.”'' | ''“A community benefit society must be carrying on an ‘industry, business or trade’. That business, industry or trade must be ‘being, or intended to be, conducted for the benefit of the community’. This is the condition for registration.”'' | ||
Latest revision as of 07:58, 11 August 2024
Unlike registered charities, community benefit registered societies such as Freegle have to benefit the community. The Co-operative and Community Benefit Societies Act 2014 doesn’t define what ‘community benefit is, but the FCA offers this interpretation:
“A community benefit society must be carrying on an ‘industry, business or trade’. That business, industry or trade must be ‘being, or intended to be, conducted for the benefit of the community’. This is the condition for registration.”
FCA document [[1]] explains this further in section 5, from page 31.
- 1. What is Freegle
- 1.2 Freegle Objects
- 1.3 Vision, Mission, Values
- 1.4 Legal Structure
- 1.5 Our strategic objectives
Link: Director Handbook
