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Statutory Instruments

2001 No. 1389

PARTNERSHIP

The Partnerships (Unrestricted Size) No. 16 Regulations 2001

Made

4th April 2001

Coming into force

10th May 2001

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. 16 Regulations 2001, and shall come into force on 10th May 2001.

2. —(1)Section 716(1) of the Companies Act 1985 does not prohibit the formation, for the purpose of carrying on investment business, of a partnership consisting of more than 20 persons which is—

(a) authorised to carry on that business under the Financial Services Act 1986( 2 ), or

(b) a European investment firm carrying on home-regulated business in the United Kingdom.

(2) In paragraph (1) above, the expressions “European investment firm” and “home-regulated investment business” have the meanings given by regulation 2 of the Investment Services Regulations 1995( 3 ).

Kim Howells,

Parliamentary Under-Secretary of State for Consumers and Corporate Affairs,

Department of Trade and Industry

4th April 2001

( 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 )

1986 c. 60 .

( 3 )

S.I. 1995/3275 .

Status: This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
The Partnerships (Unrestricted Size) No. 16 Regulations 2001 (2001/1389)

Displaying information

Status of this instrument

footnotecommentarytransitional and savingsin force statusrelated provisionsgeo extentinsert/omitsource countin force adj
Defined TermSection/ArticleIDScope of Application
European investment firmUnknownEuropean_i_rt9zCzj
home-regulated investment businessUnknownhome-regul_rtUQYC1
Changes that affect Made by
Sort descending by Changed Legislation Sort descending by Year and Number Changed Provision Type of effect Sort descending by Affecting Legislation Title Sort descending by Year and Number Affecting Provision Sort descending by Changes made to website text Note
The Partnerships (Unrestricted Size) No. 16 Regulations 2001 2001 No. 1389 reg. 2(1)(a) - (d) and word substituted The Financial Services and Markets Act 2000 (Consequential Amendments) Order 2002 2002 No. 1555 art. 45(2) Not yet
The Partnerships (Unrestricted Size) No. 16 Regulations 2001 2001 No. 1389 reg. 2(2) omitted The Financial Services and Markets Act 2000 (Consequential Amendments) Order 2002 2002 No. 1555 art. 45(3) Not yet
The Partnerships (Unrestricted Size) No. 16 Regulations 2001 2001 No. 1389 reg. 3(1)(2) inserted The Financial Services and Markets Act 2000 (Consequential Amendments) Order 2002 2002 No. 1555 art. 45(4) Not yet

Status of changes to instrument text

The list includes made instruments, both those in force and those yet to come into force. Typically, instruments that are not yet in force (hence their changes are not incorporated into the text above) are indicated by description 'not yet' in the changes made column.