(1)     For the purposes of this section-

 

‘entity’ means-

 

(a)     any mutual loan association, fidelity or indemnity fund, trade union, chamber of commerce or industry (or an association of such chambers) or local publicity association; or

 

(b)     any-

 

(i)      non-profit company as defined in section 1 of the Companies Act;

 

(ii)     society; or

 

(iii)    other association of persons,

 

established to promote the common interests of persons (being members of the company, society or association of persons) carrying on any particular kind of business, profession or occupation,

 

approved by the Commissioner in accordance with subsection (2);