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The Partnerships (Unrestricted Size) No. 9 Regulations 1992
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- 1992 No. 1028
- Explanatory Note
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Explanatory Note
(This note is not part of the Regulations)
Section 716 of the Companies Act 1985 prohibits the formation of partnerships consisting of more than 20 persons. These Regulations exempt from that prohibition any partnership formed for the purpose of carrying on business as a member firm of The International Stock Exchange of the United Kingdom and the Republic of Ireland Limited which is a member firm of that body by virtue of succeeding to the business of another partnership which was also a member firm.
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