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14.—(1) Article 665 of the Companies Order (prohibition of formation of company, association or partnership with more than 20 members unless registered as company, &c.) is amended as follows.
(2) In paragraph (2) (exemptions), after sub-paragraph (c) insert—
“(d)for any purpose prescribed by regulations (which may include a purpose mentioned above), of a partnership of a description so prescribed.”;
and omit the words inserted by paragraph 37 of Schedule 16 to the Financial Services Act 1986.
(3) For paragraph (3) substitute—
“(3) In paragraph (2)(c) “recognised stock exchange” means—
(a)The International Stock Exchange of the United Kingdom and the Republic of Ireland Limited, and
(b)any other stock exchange for the time being recognised for the purposes of this Article by the Department by order.”.
15.—(1) Article 666 of the Companies Order (limited partnerships: limit on number of members) is amended as follows.
(2) In paragraph (1) (exemptions from limit of 20 members under section 4(2) of the Limited Partnerships Act 1907(1), after sub-paragraph (c) insert—
“(d)to a partnership carrying on business of any description prescribed by regulations (which may include a business of any description mentioned above), of a partnership of a description so prescribed.”;
and omit the words inserted by paragraph 37 of Schedule 16 to the Financial Services Act 1986.
(3) For paragraph (2) substitute—
“(2) In paragraph (1)(c) “recognised stock exchange” means—
(a)The International Stock Exchange of the United Kingdom and the Republic of Ireland Limited, and
(b)any other stock exchange for the time being recognised for the purposes of this Article by the Department by order.”.
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