Section 8
Partnership for professional practice
of Limited Liability Partnerships Act 2012
ActIn forceProvision 8 of 94
Section 8
A limited liability partnership may be formed for the purpose of carrying on a professional practice which partners shall—
Limited Liability Partnerships 15
(a)
consist of natural persons who are practising the same professional practice and no one else; and
(b)
have in force professional indemnity insurance cover for an amount of not less than the amount—
(i)
approved by the Registrar; or
(ii)
in the case where the professional practice is governed by a governing body as specified under the third column of the First Schedule, approved by the
Registrar after consultation with the governing body.