Limited Partnerships (Collective Investment Schemes) Regulations 2010

Limited Partnerships (Collective Investment Schemes) Regulations 2010 Regulation 1 c SD No.2010/0171 Page 1 Statutory Document No. 2010/0171 Partnership Ac c t 1909 LIMITED PARTNERSHIPS (COLLECTIVE INVESTMENT SCHEMES) REGULATIONS 20101 Laid before Tynwald: 20 April 2010 Coming into Operation: 1 May 2010 The Treasury makes the following Regulations under section 47(2B) of the Partnership Act 19091 . 1 Title These Regulations are the Limited Partnerships (Collective Investment Schemes) Regulations 2010. 2 Commencement These Regulations come into operation on 1 May 2010. 3 Interpretation In these Regulations — “the Act” means the Partnership Act 1909; “collective investment scheme” has the meaning given in section 1 of the Collective Investment Schemes Act 20082 and includes authorised schemes under Schedule 1, international schemes under Schedule 2 and exempt schemes under Schedule 3 to that Act; “limited partnership” has the meaning given in section 47 of the Act. 4 Unrestricted number of members of collective investment schemes which are limited partnerships A limited partnership that is a collective investment scheme is exempt from the prohibition on the formation of a limited partnership consisting of more than 20 persons under section 47(2) of the Act.

1 VIII p.327
2 2008 c.7

Regulation 5
Limited Partnerships (Collective Investment Schemes) Regulations 2010
Page 2 SD No.2010/0171 c
5 Revocations
(1) The Limited Partnerships (Collective Investment Schemes) Regulations 20043 are revoked. MADE 10 MARCH 2010

3 SD1/04

Limited Partnerships (Collective Investment Schemes) Regulations 2010 Endnotes c SD No.2010/0171 Page 3 ENDNOTES
Table of Endnote References
1 The format of this legislation has been changed as provided for under section 75 of, and paragraph 2 of Schedule 1 to, the Legislation Act 2015. The changes have been approved by the Attorney General after consultation with the Clerk of Tynwald as required by section 76 of the Legislation Act 2015.