Regulation 2

So much of the Limited Partnerships Act 1907^f1 as provides that a limited partnership shall not consist of more than twenty persons shall not apply to a partnership carrying on business as insurance brokers and consisting of persons each of whom is a registered insurance broker or an enrolled body corporate.

In these Regulations, “registered insurance broker” and “enrolled” have the meanings given in section 29(1) of the Insurance Brokers (Registration) Act 1977^f2.