The term Development Trust does not refer to a specific legal structure.
It can be applied to any group or organisation which:-
is owned and managed by the local community
has social aims relating to improving the economy, environment and culture of a community
generates its own income through enterprise and the ownership of assets.
re-invests any profits or trading surplus back into running the organisation or benefiting the community.
works in partnership with other organisations (private, public and third sector)
These groups may be incorporated as a company limited by guarantee, a community interest company or an industrial and provident society and some will have charitable status.