Related Commentary  

58(1)  In sections 56 and 57 “limited partner” means a company which carries on a trade–

(a)as a limited partner in a limited partnership registered under the Limited Partnerships Act 1907,

(b)as a partner in a firm which in substance acts as a limited partner in relation to the trade (see subsection (2)), or

(c)while the condition mentioned in subsection (3) is met in relation to the company.

58(2)  A company in substance acts as a limited partner in relation to a trade if the company–

(a)is not entitled to take part in the management of the trade, and

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