Sch 1A para 25
(1) An individual does not meet the specified condition in paragraph 2, 3 or 4 in relation to a company by virtue only of being a limited partner. (2) An individual does not meet the specified condition in paragraph 2, 3 or 4 in relation to a company by virtue only of, directly or indirectly— (a) holding shares, or (b) holding a right, in or in relation to a limited partner which (in its capacity as such) would meet the condition if it were an individual. (3) Sub-paragraphs (1) and (2) do not apply for the purposes of determining whether the requirement set out in paragraph (a) of the specified condition in paragraph 6 is met. (4) In this paragraph “ limited partner ” means— (a) a limited partner in a limited partnership registered under the Limited Partnerships Act 1907 (other than one who takes part in the management of the partnership business), or (b) a foreign limited partner. (5) In this paragraph “ foreign limited partner ” means an individual who— (a) participates in arrangements established under the law of a country or territory outside the United Kingdom, and (b) has the characteristics prescribed by regulations made by the Secretary of State. (6) Regulations under this paragraph may, in particular, prescribe characteristics by reference to— (a) the nature of arrangements; (b) the nature of an individual's participation in the arrangements. (7) Regulations under this paragraph are subject to affirmative resolution procedure.