
1 
These Regulations may be cited as the Partnerships (Unrestricted Size) No. 16 Regulations 2001, and shall come into force on 10th May 2001.
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, 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.
Kim Howells,
Parliamentary Under-Secretary of State for Consumers and Corporate Affairs,
Department of Trade and Industry
4th April 2001