(1) A firm or proposed firm must not discriminate against a person—
(a) in the arrangements it makes for deciding to whom to offer a position as a partner;
(b) as to the terms on which it offers the person a position as a partner;
(c) by not offering the person a position as a partner.
(2) A firm (A) must not discriminate against a partner (B)—
(a) as to the terms on which B is a partner;
(b) in the way A affords B access, or by not affording B access, to opportunities for promotion, transfer or training or for receiving
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This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:
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