(1) The Limited Partnerships Act 1907 [1907 c.24.] has effect with the following modifications in its application to an ELTIF marketed to retail investors under Chapter 5 of the ELTIF Regulation.
(2) Section 4 (definition and constitution of limited partnership) is to be read as if -
(a) in subsection (2A) there were omitted the words "and shall not be liable for the debts or obligations of the firm beyond the amount so contributed";
(b) after subsection (2A) there were inserted -
"(2AA) The limited partners in a limited partnership that is not a private fund limited partnership are not liable for the debts or obligations of the firm beyond the amount of the partnership property which is available to the general partner to meet such debts or obligations.
(2AB) A person ("P") who ceases to be a limited partner in a limited partnership that is not a private fund limited partnership ceases to have any liability for the debts or obligations of the firm.
(2AC) Subsection (2AB) does n