Section 7(5)

In this section— and, for the purposes of this section, a trade or profession is a business. “partnership” means— or a firm or entity of a similar character formed under the law of a country or territory outside the United Kingdom, a partnership within the Partnership Act 1890, or a limited partnership registered under the Limited Partnerships Act 1907, “relevant commercial organisation” means— a body which is incorporated under the law of any part of the United Kingdom and which carries on a business (whether there or elsewhere), any other body corporate (wherever incorporated) which carries on a business, or part of a business, in any part of the United Kingdom, a partnership which is formed under the law of any part of the United Kingdom and which carries on a business (whether there or elsewhere), or any other partnership (wherever formed) which carries on a business, or part of a business, in any part of the United Kingdom,

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Source: legislation.gov.uk · retrieved 2026-09-04