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8. Partnership for professional practice

A limited liability partnership may be formed for the purpose of carrying on a professional practice which partners shall-

(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.
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