PART 2Partnerships
Application
3. This Part applies to a person (the associate) where—
(a)the person who owns or tenants the land (the recorded person)—
(i)does so as a partner in a partnership or on its behalf, or
(ii)is a partnership, and
(b)the associate—
(i)is a general partner of the recorded person, but is not registered as owning or leasing the land,
(ii)is a general partner of another partnership which is (of itself) a partner of the recorded person,
(iii)is an individual who has significant influence or control over a relevant entity which is a partner of the recorded person,
(iv)is an individual who has the right to exercise, or who actually exercises, significant influence or control over the recorded person or a partnership in which the recorded person is a partner.
Exceptions
4. This Part does not apply to a person where that person’s relationship to the partnership is only that of—
(a)a paid professional advisor to the partnership (such as a solicitor or an accountant),
(b)a creditor of the partnership (such as the holder of a standard security),
(c)an administrator of the partnership in insolvency proceedings, or
(d)a member of the judiciary presiding over proceedings in connection with the partnership.
Interpretation of Part 2
5. For the purposes of this Part—
(a)“relevant entity” means any body corporate or other entity (whether incorporated or not) that is a legal person under the law by which it is governed, other than a person of a type listed in schedule 2,
(b)examples of significant influence and control include, in particular, where a person—
(i)has the right to unilaterally take or veto decisions about the governance and running of a partnership,
(ii)has the right to appoint or remove any partners of a partnership without application to a court, or
(iii)is able to influence the decision-making of a partnership without holding any formal governance position within the partnership, particularly in respect of the partnership’s dealings with land,
(c)for the purposes of paragraph (3)(b)(iv), a person (A) does not exercise significant influence and control over a recorded person or the partnership if A is also a recorded person under paragraph 3(a).