PART 2Partnerships

CHAPTER 1Limited partnerships etc.

Regulations

I1151Limited partnerships: regulations

After section 37 of the Limited Partnerships Act 1907 (inserted by section 148 of this Act) insert—

Regulations

38Regulations

1

A power to make regulations under any provision of this Act includes power to make—

a

consequential, supplementary, incidental, transitional or saving provision;

b

different provision for different purposes.

2

Regulations made by the Secretary of State under this Act are to be made by statutory instrument.

3

Where regulations under this Act are subject to “the affirmative resolution procedure”, the regulations may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of each House of Parliament.

4

Where regulations under this Act are subject to “the negative resolution procedure”, the statutory instrument containing the regulations is subject to annulment in pursuance of a resolution of either House of Parliament.

5

Any provision that may be made by regulations under this Act subject to the negative resolution procedure may be made by regulations subject to the affirmative resolution procedure.