C1Part 5Work

Annotations:
Modifications etc. (not altering text)

Chapter 1Employment, etc.

Partners

46Interpretation

1

This section applies for the purposes of sections 44 and 45.

2

“Partnership” and “firm” have the same meaning as in the Partnership Act 1890.

3

“Proposed firm” means persons proposing to form themselves into a partnership.

4

“LLP” means a limited liability partnership (within the meaning of the Limited Liability Partnerships Act 2000).

5

“Proposed LLP” means persons proposing to incorporate an LLP with themselves as members.

6

A reference to expelling a partner of a firm or a member of an LLP includes a reference to the termination of the person's position as such—

a

by the expiry of a period (including a period expiring by reference to an event or circumstance);

b

by an act of the person (including giving notice) in circumstances such that the person is entitled, because of the conduct of other partners or members, to terminate the position without notice;

c

(in the case of a partner of a firm) as a result of the dissolution of the partnership.

7

Subsection (6)(a) and (c) does not apply if, immediately after the termination, the position is renewed on the same terms.