17.2.2 DEFINITION OF NONPROFIT COMPANY
An NPC’s MOI must set out at least one object of the company which must be either a “public benefit” object or an object relating to one or more cultural or social activities or communal or group interest and;
The property of the company must not be distributable to its incorporators, members, directors, officers or persons related to any of them except to the extent provided by item 1(3) (see s 1). The NPC must apply all of its assets and income however derived to advance its stated objects as set out in the MOI.