HC Deb 30 October 1986 vol 103 c519

Lords amendments made: No. 28, in page 16, line 33, at end insert— (aa) if the applicant is a partnership, to any of the partners;". No. 29, in page 17, line 5, leave out subsection (6) and insert (6) An authorisation granted to a partnership—

  1. (a) shall be granted in the partnership name; and
  2. (b) shall authorise the carrying on of investment business in that name (or with the Secretary of State's consent in any other name) by the partnership to which the authorisation is granted, by any partnership which succeeds to that business or by any person who succeeds to that business having previously carried it on in partnership;
and, in relation to an authorisation granted to a partnership constituted under the law of England and Wales or Northern Ireland or the law of any other country or territory under which a partnership is not a legal person, references in this Act to the holder of the authorisation or the authorised person shall be construed as references to the persons or person for the time being authorised by the authorisation to carry on investment business as mentioned in paragraph (b) above.".—[Mr. Howard.]

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