{
  "url": "https://openlegislation.uk/draft-partnerships-restrictions-on-contributions-to-a-trade-regulations-2006/regulation-2",
  "json_url": "https://openlegislation.uk/draft-partnerships-restrictions-on-contributions-to-a-trade-regulations-2006/regulation-2.json",
  "legislation": "ukdsi/2006/0110745329",
  "legislation_title": "The Partnerships (Restrictions on Contributions to a Trade) Regulations 2006",
  "legislation_url": "https://openlegislation.uk/draft-partnerships-restrictions-on-contributions-to-a-trade-regulations-2006",
  "path": "regulation/2",
  "kind": "regulation",
  "number": "2",
  "heading": "Interpretation",
  "text": "In these Regulations—\n“ICTA” means the Income and Corporation Taxes Act 1988;\n“ITTOIA” means the Income Tax (Trading and Other Income) Act 2005;\n“relevant individual” means—\n(a) a limited partner (within the meaning in section 117 of ICTA),\n(b) a member of a limited liability partnership (within the meaning in section 118ZA of ICTA), and\n(c) a general partner (that is, not a limited partner) who does not devote a significant amount of time to the trade (within the meaning in section 118ZH of ICTA),\nwhere the partnership carries on a relevant trade (within the meaning in section 122A(1) of the Finance Act 2004); and\n“profit-sharing arrangements” has the meaning in section 850(6) of ITTOIA.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "1988 c. 1."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "2005 c. 5."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Section 118ZA was substituted by section 75 of the Finance Act 2001 (c. 9)."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "Section 118ZH was inserted by section 124(1) of the Finance Act 2004."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2006/0110745329/regulation/2",
    "retrieved_at": "2026-10-30T15:21:10.718367+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}