SCHEDULES
SCHEDULE 2Registrable beneficial owners
PART 5Supplementary provision about interpretation of Schedule
I1I223Limited partnerships
1
A person does not meet Condition 1, 2 or 3 of paragraph 6 in relation to an overseas entity by virtue only of being a limited partner.
2
A person does not meet Condition 1, 2 or 3 of paragraph 6 in relation to an overseas entity by virtue only of, directly or indirectly—
a
holding shares, or
b
holding a right,
in or in relation to a limited partner.
3
4
In this paragraph “limited partner” means—
a
a limited partner in a limited partnership registered under the Limited Partnerships Act 1907 (other than one who takes part in the management of the partnership business), or
b
a foreign limited partner.
5
In this paragraph “foreign limited partner” means an individual who—
a
participates in arrangements established under the law of a country or territory outside the United Kingdom, and
b
has the characteristics prescribed by regulations made by the Secretary of State.
6
Regulations under this paragraph may, among other things, prescribe characteristics by reference to—
a
the nature of arrangements;
b
the nature of an individual’s participation in the arrangements.
7
Regulations under this paragraph are subject to the affirmative resolution procedure.