A community benefit society (CBS) is a legally structured, not-for-profit organisation focused on serving the community, not just its members. The CBS has a governing document called the Rules, that sets out how the CBS is structured and is governed.
Key features of a CBS include a democratic “one member, one vote” system, an asset lock preventing assets from benefiting individuals, and the ability to raise funds through community share issues. CBSs are registered with the Financial Conduct Authority (FCA). A CBS is a type of co-operative and works within the international Co-operative Principles as follows:

• Voluntary and open membership
• Democratic Member Control
• Member Economic Participation
• Autonomy and Independence
• Education, Training and Information
• Co-operation Among Co-operatives
• Concern for Community