Modifications etc. (not altering text)
C1Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2
Textual Amendments
F1Words in Pt. 13 Ch. 5 heading inserted (3.8.2009) by The Companies (Shareholders' Rights) Regulations 2009 (S.I. 2009/1632), reg. 19(5) (with application as stated in reg. 1(2))
(1)This section applies where a partnership that is not a legal person under the law by which it is governed is appointed as an independent assessor.
(2)Unless a contrary intention appears, the appointment is of the partnership as such and not of the partners.
(3)Where the partnership ceases, the appointment is to be treated as extending to—
(a)any partnership that succeeds to the practice of that partnership, or
(b)any other person who succeeds to that practice having previously carried it on in partnership.
(4)For the purposes of subsection (3)—
(a)a partnership is regarded as succeeding to the practice of another partnership only if the members of the successor partnership are substantially the same as those of the former partnership, and
(b)a partnership or other person is regarded as succeeding to the practice of a partnership only if it or he succeeds to the whole or substantially the whole of the business of the former partnership.
(5)Where the partnership ceases and the appointment is not treated under subsection (3) as extending to any partnership or other person, the appointment may with the consent of the company be treated as extending to a partnership, or other person, who succeeds to—
(a)the business of the former partnership, or
(b)such part of it as is agreed by the company is to be treated as comprising the appointment.