Each entry in the register shall designate the body registered as either—
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
A body is a non-profit organisation if—
Condition 1 is that the body—
Condition 2 is that a purpose of the body is the provision or management of housing.
Condition 3 is that any other purposes of the body are connected with or incidental to the provision of housing.
The fact that a body is prohibited by its constitution from trading for profit does not, of itself, mean that it is a body which does not trade for profit for the purposes of subsection (4)(a).
The Secretary of State may make regulations providing that a specified purpose is to be, or not to be, treated as connected with or incidental to the provision of housing.
A body which is not a non-profit organisation under subsection ... (3) is a profit-making organisation.
If the regulator thinks that what was a profit-making organisation has become a non-profit organisation or vice versa, the regulator must change the registered designation accordingly and notify the body it has done so.
Subsection (1) does not apply to the entry of a local authority in the register (and, accordingly, references to "profit-making" and "non-profit" in connection with a registered provider do not refer to a local authority).