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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Partnerships (Unrestricted Size) No. 10 Regulations 1992 No. 1439 URL: http://www.bailii.org/uk/legis/num_reg/1992/uksi_19921439_en.html |
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Statutory Instruments
PARTNERSHIP
Made
16th June 1992
Coming into force
10th July 1992
The Secretary of State, in exercise of the power conferred on him by sections 716(2)(d) and 744 of the Companies Act 1985(1), hereby makes the following Regulations:-
1. These Regulations may be cited as the Partnerships (Unrestricted Size) No. 10 Regulations 1992 and shall come into force on 10th July 1992.
2. Section 716(1) of the Companies Act 1985 does not prohibit the formation for the purpose of carrying on practice as consulting engineers of a partnership consisting of persons the majority of whom are recognised by The Engineering Council as chartered engineers.
3. The Partnerships (Unrestricted Size) No. 3 Regulations 1970(2) are hereby revoked.
Neil Hamilton
Parliamentary Under-Secretary of State,
Department of Trade and Industry
16th June 1992
(This note is not part of the Regulations)
Section 716 of the Companies Act 1985 prohibits the formation of partnerships consisting of more than 20 persons. These Regulations exempt from that prohibition any partnership formed for the purpose of carrying on practice as consulting engineers and consisting of persons the majority of whom are recognised by The Engineering Council as chartered engineers. They replace, and revoke, earlier Regulations (S.I. 1970/992) which provided for an exemption in relation to engineers recognised as chartered engineers by The Engineering Council's predecessor, the Council of Engineering Institutions.
1985 c. 6; section 716(2)(d) was inserted by the Companies Act 1989 (c. 40), section 145 and Schedule 19, paragraph 15(2); section 744 contains a definition of "prescribed" relevant to the exercise of the power conferred by section 716(2)(d).
S.I. 1970/992.
