Section 46 — Interpretation
This version in force from 2010-10-01
Snapshot: 2026-08-24
Reproduced from legislation.gov.uk (Crown Copyright, Open Government Licence v3.0). Amendments made after 2026-08-24 may not be reflected — always check the official text .
(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.