Part 2 – Limited partnerships etc Required information about limited partnerships Section 112: Details about general nature of partnership business
Section 8A(2) of the Limited Partnership Act 1907 already requires that the general nature of the partnership business be provided to the Registrar at the registration stage. This section amends section 8A to specify that limited partnerships must use a standard system of classification (as prescribed in regulations) to specify the nature of their business. This will facilitate interrogation of the register to determine the purpose or purposes for which limited partnerships are being used.
	It is intended that the UK Standard Industrial Classification of Economic Activities 2007 will be used, aligning with pre-existing requirements on companies. This may be amended, and there will be an option for partnerships who cannot find an appropriate category to provide a description.