The Partnerships (Unrestricted Size) No. 14 Regulations 2000

Statutory Instruments

2000 No. 486

PARTNERSHIP

The Partnerships (Unrestricted Size) No. 14 Regulations 2000

Made

28th February 2000

Coming into force

31st March 2000

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. 14 Regulations 2000, and shall come into force on 31st March 2000.

2.  Section 716(1) of the Companies Act 1985 does not prohibit the formation, for the purpose of carrying on one or more of the activities listed in the Schedule to these Regulations, of a partnership consisting of persons the majority of whom are members of the Royal Institution of Chartered Surveyors, or members of a corresponding professional association in another EEA State.

3.  In these Regulations–

• “corresponding professional association” means an association or organisation the purpose of which is, in particular, to promote and maintain a high standard in professions involving one or more of the activities listed in the Schedule to these Regulations and which to that end–

  (a)

  prescribes, and enforces respect within its membership for, rules of professional conduct; and

  (b)

  awards evidence of education and training to its members; and

  (c)

  confers on its members the right to use one or more professional titles, or designatory letters or to benefit from a status corresponding to that education and training; and

• “EEA State” means a State which is a Contracting Party to the Agreement on the European Economic Area signed at Oporto on 2nd May 1992(2) as adjusted by the Protocol signed at Brussels on 17th March 1993(3).

4.  The Partnerships (Unrestricted Size) No. 1 Regulations 1968(4) are hereby revoked.

Kim Howells,

Parliamentary Under-Secretary of State for Consumers and Corporate Affairs

Department of Trade and Industry

28th February 2000

Regulation 2

SCHEDULE

1.  Surveying.

2.  Auctioneering.

3.  Valuing.

4.  Marketing and management of land.

5.  Estate Management.

6.  Advice on the use, appraisal,planning and development of land.

7.  Activities pursued in another EEA State which correspond to one or more of the activities listed in paragraphs 1 to 6 above.

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 partnerships formed for the purpose of carrying on one or more of the activities listed in the Schedule to the Regulations, and consisting of persons the majority of whom are members of either the Royal Institution of Chartered Surveyors or of a corresponding professional association in a Member State of the European Economic Area.

These Regulations replace, and revoke, the Partnerships (Unrestricted Size) No. 1 Regulations 1968 (S.I. 1968/1222).

A Regulatory Impact Assessment of these Regulations is available from the Department of Trade and Industry, Company Law and Investigations Directorate, Room 4102, 1 Victoria Street, London SW1H 0ET. A copy has also been placed in the libraries of both Houses of Parliament.

(1)

1985 c. 6; section 716(2)(d) was substituted 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).

(2)

O.J.L1, 3.1.94, p.3.

(3)

O.J.L1, 3.1.94, p.571.

(4)

S.I. 1968/1222.