22IPower to amend application of Act in relation to relevant entities

1

The Secretary of State may by regulations amend this Act for the purpose of applying, or modifying the application of, any of its provisions in relation to relevant entities.

2

For that purpose, the regulations may in particular—

a

extend the company disqualification conditions to include corresponding conditions relating to a relevant entity;

b

limit the company disqualification conditions to remove conditions relating to a relevant entity;

c

modify which company disqualification conditions can, in combination with each other, result in a person being disqualified under this Act;

d

provide for any of the company disqualification conditions to result in or contribute to a person being disqualified from acting in a role or doing something in relation to a relevant entity.

3

In this section “the company disqualification conditions” means the conditions that can result in or contribute to a person being disqualified under this Act from acting in a role or doing something in relation to any entity.

4

In this section a “relevant entity” means—

a

a limited partnership registered under the Limited Partnerships Act 1907;

b

a limited liability partnership registered under the Limited Liability Partnerships Act 2000;

c

a partnership, other than a limited partnership, that is—

i

constituted under the law of Scotland, and

ii

a qualifying partnership within the meaning given by regulation 3 of the Partnerships (Accounts) Regulations 2008.

5

Regulations under this section may make—

a

consequential, supplementary, incidental, transitional or saving provision;

b

different provision for different purposes.

6

The provision which may be made by virtue of subsection (5)(a) includes provision amending provision made by or under either of the following, whenever passed or made—

a

an Act;

b

Northern Ireland legislation.

7

Regulations under this section are to be made by statutory instrument.

8

A statutory instrument containing regulations under this section may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.