(1) This section applies to bodies corporate incorporated in and having a principal place of business in the United Kingdom, other than -
(a) bodies incorporated by, or registered under, a public general Act of Parliament;
(b) bodies not formed for the purpose of carrying on a business that has for its object the acquisition of gain by the body or its individual members;
(c) bodies for the time being exempted from this section by direction of the Secretary of State;
(d) open-ended investment companies;
(e) protected cell companies registered under Part 4 of the Risk Transformation Regulations 2017.
(2) The Secretary of State may make provision by regulations applying specified provisions of the Companies Acts to all, or any specified description of, the bodies to which this section applies.
(3) The regulations may provide that the specified provisions of the Companies Acts apply subject to any specified limitations and to such adaptations and modifications (if any) as may be specified.
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