SCHEDULES
SCHEDULE 19Minor amendments of the Companies Act 1985
Exemptions from limit of 20 on members of partnership
16
1
Section 717 of the Companies Act 1985 (limited partnerships: limit on number of members) is amended as follows.
2
In subsection (1) (exemptions from limit of 20 members under section 4(2) of [1907 c. 24.] Limited Partnerships Act 1907), after paragraph (c) insert—
d
to a partnership carrying on business of any description prescribed by regulations (which may include a business of any description mentioned above), of a partnership of a description so prescribed.
and omit the words inserted by paragraph 22 of Schedule 16 to the Financial Services Act 1986.
3
For subsections (2) and (3) substitute—
2
In subsection (1)(a) “solicitor”—
a
in relation to England and Wales, means solicitor of the Supreme Court, and
b
in relation to Scotland, means a person enrolled or deemed enrolled as a solicitor in pursuance of the Solicitors (Scotland) Act 1980.
3
In subsection (1)(c) “recognised stock exchange” means—
a
The International Stock Exchange of the United Kingdom and the Republic of Ireland Limited, and
b
any other stock exchange for the time being recognised for the purposes of this section by the Secretary of State by order made by statutory instrument.