Regulation 4 Formation of limited partnerships

For regulation 4(2) (meaning of business relationship) substitute—

“(2)

A relationship where the relevant person is asked to provide one or more of the services described in regulation 12(2)(a), (b) or (d) is to be treated as a business relationship for the purpose of these Regulations, whether or not the relationship is otherwise expected to have an element of duration.”.

For regulation 12(2)(a) (trust or company service providers) substitute—

“(a)

forming a firm;”.