Part 11Charitable incorporated organisations (CIOs)

CHAPTER 5Supplementary

248Meaning of “benefit”

1

This section applies for the purposes of sections 226(2)(c), 237(5)(c) and 242(3)(c) (cases where Commission may refuse to consent to amendment of constitution, to grant an application for amalgamation or to confirm a resolution transferring a CIO's undertaking).

2

“Benefit” means a direct or indirect benefit of any nature, except that it does not F1include—

a

any remuneration whose receipt may be authorised under section 185, or

b

the purchase of any insurance which may be authorised under section 189.