Section 18
Section 53 of the principal Act is amended—
ActIn forceProvision 19 of 86
Section 18
(a)
by substituting for subsection (3) the following subsection:
“(3) In this section, “trade association” means any association of persons, of partnerships or of persons and partnerships formed with the main object of—
(a)
safeguarding or promoting the business of its members; or
(b)
developing and advancing the profession of its members.”; and
(b)
by inserting after subsection (3) the following subsection:
“(4) Notwithstanding any other provisions of this Act, a trade association shall, for the purposes of this section, be deemed to be a body of persons and not a partnership.”.