Tuesday 14 July 2009

UK: the Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009

The Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009 have been published on OPSI: see here (html) and here (pdf). An explanatory memorandum is available here. The Regulations were made on 8 July: some are already in force with the remainder coming into force on 1 October 2009 (see here for further information).  The explanatory memorandum explains that the purpose of the Regulations is to:

... complete the application of the Companies Act 2006 (“the 2006 Act”) to limited liability partnerships (“LLPs”). The accounts and audit provisions of the 2006 Act have already been applied to LLPs with effect from 1st October 2008. These Regulations apply as appropriate (with modification) the remaining provisions of the 2006 Act".

Note
: the Regulations contain a mistake: in error they repeal the application to limited liability partnerships of Part 18 of the Companies Act 1985 regarding floating charges under Scots law. This has been corrected by the Limited Liability Partnerships (Amendment) Regulations 2009 - available here (html) and here (pdf) - the effect of which will be to maintain the application of Part 18.

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