Regulation 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^f1, 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^f2.

Annotations

Footnotes

f1: 1986 c. 60.
f2: S.I. 1995/3275.