Statutory Instruments
PARTNERSHIP
Made
2nd December 1991
Coming into force
1st January 1992
The Secretary of State, in exercise of the power conferred on him by sections 716(2)(d) and 744 of the Companies Act 1985(1), hereby makes the following Regulations:
1. These Regulations may be cited as the Partnerships (Unrestricted Size) No. 8 Regulations 1991 and shall come into force on 1st January 1992.
2. Section 716(1) of the Companies Act 1985 does not prohibit the formation for the purpose of carrying on practice as lawyers of a partnership which is a multi-national partnership within the meaning of section 89(9) of the Courts and Legal Services Act 1990(2).
John Redwood
Minister of State,
Department of Trade and Industry
2nd December 1991
(This note is not part of the Regulations)
Section 716 of the Companies Act 1985 prohibits the formation of partnerships of more than 20 persons. These regulations exempt from that prohibition partnerships formed for the purpose of carrying on practice as lawyers which are multi-national partnerships within the meaning of the Courts and Legal Services Act 1990.
1985 c. 6; section 716(2)(d) was inserted by the Companies Act 1989 (c. 40), section 145 and Schedule 19, paragraph 15(2); section 744 contains a definition of “prescribed” relevant to the exercise of the power conferred by section 716(2)(d).