SCHEDULE 4Application of these Regulations to partnerships

3

In the application of these Regulations and the Disqualification Act to partnerships, unless the contrary intention appears, the following apply—

a

references to companies shall be construed as references to partnerships and all references to the registrar of companies shall be omitted;

b

references to shares of a company shall be construed—

i

in relation to a partnership with capital, as references to rights to share in that capital, and

ii

in relation to a partnership without capital, as references to interests—

aa

conferring any right to share in the profits or liability to contribute to the losses of the partnership, or

bb

giving rise to an obligation to contribute to the debts or expenses of the partnership in the event of special administration; and

c

other expressions appropriate to companies shall be construed, in relation to partnerships, as references to the corresponding persons, officers, documents or organs (as the case may be) appropriate to a partnership.