Many companies primarily have charitable and non-profit objectives. Such entities are referred to as a Section 8 Company.
These companies dedicate all their incomes and profits towards the furtherance of their objectives.
These companies also apply their profits towards the furtherance of their cause.
Section 8 companies do not aim to make profits. Their objectives are purely charitable in nature.
It is important to note that such companies can only be limited companies. All privileges and obligations of limited companies apply in this case.
Members have limited liability.