Part 3Licensing trusts, community trusts, and other matters
Community trusts: Status, name, region, and functions of community trust
365How community trust may spend profits
A community trust must apply the net profit that it makes in performing its functions to charitable, cultural, philanthropic, recreational, and other purposes that are beneficial exclusively or principally to the community in the region of the community trust.
However, a community trust may, instead of applying all of its net profit as required by subsection (1), retain so much of its net profit as it thinks prudent for the purposes of its activities (including any proposed activities).