(1) Subject to paragraphs (3) to (6), the provisions of sections 10, 12 (1) and 18 of the 1986 Act applicable to a company qualified to be treated as a small company shall apply mutatis mutandis to a partnership to which this Part applies in respect of any financial year of the partnership if, in respect of that year and the financial year of the partnership immediately preceding that year, the partnership satisfies at least two of the conditions specified in subsection (2) of section 8 of the 1986 Act, as amended by Regulations 4.
(2) Subject to paragraphs (3) to (6), the provisions of sections 11, 12 (2) and 18 of the 1986 Act applicable to a company qualified to be treated as a medium sized company shall apply mutatis mutandis to any partnership to which this Part applies in respect of any financial year of the partnership if, in respect of that year and the financial year of the partnership immediately preceding that year, the partnership satisfies at least two of the conditio