The CLT is a Community Benefit Society, an incorporated organisation registered with the Financial Conduct Authority. Community Benefit Societies – as their name suggests – are set up for the benefit of the community (however the community is defined). It is a non-for-private-profit organisation where any land or property is held for the benefit of the community and can never be sold for private profit. People living in the community can become members for £1. The members elect the Board and one third of the Board members stand for re-election at a time. A Community Benefit Society can own land for affordable housing but can also own other land and property of importance to the community, such as a village shop, pub or renewable energy scheme.