Section 115 of the Housing and Regeneration Act 2008 (profit-making and non-profit organisations) is amended as follows—
omit subsection (2);
for subsection (3) substitute— 3 A body is a non-profit organisation if— a it is a registered or non-registrable charity and satisfies Conditions 1 and 2, or b otherwise, it satisfies Conditions 1 to 3.;
in subsection (4)—
in paragraph (a), omit "or";
omit paragraph (b);
after subsection (6) insert— 6A 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).;
in subsection (8) omit "(2) or".