COMPANIES NOT FOR GAIN An association formed to promote commerce, art, science, re ligion, charity or any other useful object may, with the licence of the Board of Trade, register under the Companies Acts with limited liability, but without the addition to its name of the word "Limited," upon proving to the board that it is the intention of the association to apply its profits or income in promoting its objects, and not in payment of dividends to its members. This licence is revocable. In lieu of the word "Company," the association usually adopts as part of its name some such title as association, chamber, club, college, institute or society. The power given by this section has proved very useful, and many kinds of associations have availed themselves of it, such as medical institutes, law societies, nursing homes, chambers of commerce, clubs, schools and learned societies. The guarantee form (see supra) is well adapted for associations of this kind, supported as they usually are, by annual subscriptions. No such association can hold more than two acres of land without the licence of the Board of Trade.