Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Not-for-profit definition

What does Not-for-profit mean? In legal practice, not-for-profit describes an organisation whose governing documents prevent the distribution of profits to members, owners or shareholders; any surplus is retained and applied to its purposes. The term is descriptive rather than a defined legal status and is broadly used, and understood consistently, across England and Wales, Scotland, Northern Ireland and Ireland. It broadly aligns with “non‑profit distributing”. Charities are a subset of not‑for‑profit bodies: they may generate surpluses, but must apply them solely to their charitable objects and cannot distribute them. Charity status is conferred by statute and regulation (eg Charities Act 2011, the 2005 and...

UK FCA regime for debt management and not-for-profit bodies: RAO 2001 Ch 7B activities, exclusions/exemptions, authorisation, and CONC 7/8, CONC 10, CASS 11 and DISP requirements

Published by a LexisNexis Financial Services expert

Practice notes

This Practice Note outlines the debt-related regulated activities set out in Chapter 7B of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO), namely debt adjusting, debt counselling, debt collecting and debt administration. It also provides a summary of the Financial Conduct Authority (FCA) rules that apply to debt management firms and Not-for-profit organisations...

What is a debt management firm?

The FCA Glossary defines a debt management firm as:

a firm that undertakes debt counselling or debt adjusting, whether separately or together, aiming for an individual to enter a particular debt solution; or
a firm providing debt counselling where an associate carries on debt adjusting with the purpose in (a) in mind; or
a firm carrying on debt adjusting where an associate undertakes debt counselling with the purpose in (a) in mind,

and, in all cases, excluding a not-for-profit debt advice body.

What is a not-for-profit debt advice body?

In the FCA Glossary, a not-for-profit debt advice body means a not-for-profit body that:

holds a limited permission to carry on:
- debt counselling alone, or

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Web page updated on 21/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...