COMMONS AMENDMENT (Hansard, 27 July 1967)

§ LORD HUGHES

My Lords, with Amendment 120, it will perhaps be convenient to discuss Nos. 256, 257, 258 and 259. Clause 41 dealt with exemptions from prohibitions imposed by Section 434 of the Companies Act 1948, and the formation of partnerships with more than 20 members. This clause is now replaced by the new clause in Amendment 257, which makes only minor drafting changes which exempt certain professional partnerships from the limitation imposed by Section 434 on having more than 20 members.

Another new clause (Amendment No. 258), added by the Commons, removes a similar limitation imposed by the Limited Partnerships Act 1907. A further new clause (Amendment No. 256) modifies the ban imposed by Section 429 of the Companies Act 1948 on the formation of banking partnerships with more than 10 members, and the new clause (Amendment No. 259) provides that the whole of the new part of the Bill dealing with partnerships shall not apply to Northern Ireland. I beg to move that this House doth agree with the Commons in Amendment No. 120.