Sure, I read that (should have pointed that out, sorry).
However, all it says is "we're going to set up a company (limited by guarentee) to do stuff related to a set of objectives that are still freely editable by anyone".
I'm not trying to be difficult, and I'm certainly a big fan of openness and community led developments. However, I'm also realistic (and reasonably knowledgable) about what it takes to create a succesful social enterprise.
Either the above linked document has less detail than exists in the minds of the people on this list, or the cart is, at present, before the horse.
It's a chapter of the foundation, it will do the same sorts of things as others chapters do. See http://meta.wikimedia.org/wiki/Wikimedia_chapters/Summaries for some ideas about what that includes. I really don't get why everyone is making such a big deal about having a list of objectives when we all know what chapters do, this isn't a new concept.