Regulation 2

Section 716(1) of the Companies Act 1985 does not prohibit the formation for the purpose of carrying on business as insurance brokers of a partnership 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^f1.