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  1. Point in time
    2014-07-22

not-for-profit body

52a body which by virtue of its constitution or any enactment:

  1. (a) is required (after payment of outgoings) to apply the whole of its income, and any capital which it expends, for charitable or public purposes; and
  2. (b) is prohibited from directly or indirectly distributing among its members any part of its assets (otherwise than for charitable or public purposes).