b'LegislationLocalism Act General CompetenceCommercial Purpose RequirementsMust trade only through a company within section 1(1) of the Companies Act 2006 or a Society registered or deemed to be registered under the Co-operative and Community Benefit Societies and Credit Unions Act 1965 or the Industrial and Provident Societies Act (Northern Ireland) 1969. PermittedDoing things for a commercial purpose (which is not defined under the Act) in exercise of the general powers which could be done otherwise than for a commercial purpose. Purpose does not need to be function related (as per section 95) if pursuant to general powers; Note there is no requirement under Localism Act to prepare a business case prior to exercising the power (cf section 95); no requirement to recover costs incurred re trading company (cf section 95)but further regulations and guidance may follow commencement of the Act. ProhibitedUse of general power for commercial purpose where a statutory provision requires the authority to do those things for a person (ie the authority is under a statutory duty). UsersUnlimited Wholly-ownedCan be established to tradePrivate sectorIf a trading or investment local authoritywith general public.investmentpartner is sought, the local vehiclesauthority needs to consider the application of the procurement rules. 95'