Partnerships/unincorporated businesses

(1) In the case of local limited partnerships, it will usually be appropriate to obtain a copy of the certificate of registration and a certificate of good standing certified by the Registrar of Companies as the case may be. (2) In the case of unincorporated businesses or partnerships in which the general partner does not fall within paragraph (1) above, IFS Practitioners shall obtain where relevant (i) evidence of the identity of a majority of the partners, owners or managers and the authorised signatories; (ii) a copy of the mandate from the partnership or unincorporated business authorising the establishment of the business relationship, and confirmation of any authorised signatories. (3) Consideration shall also be given as to whether it is reasonable to obtain a copy of the partnership agreement or documents governing the business. Clients action on