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Limited Liability Partnerships

APPLICATION OF THE COMPANIES ACT 2006 TO LIMITED LIABILITY PARTNERSHIPS

In November 2008, the Government published for comment the draft regulations applying the remaining (i.e. non-accounts and audit) provisions of the Companies Act 2006 (2006 Act), as appropriate, to Limited Liability Partnerships (LLPs) in Great Britain and Northern Ireland. This consultation closed on 28 January 2009.
The draft regulations applying the remaining provisions of the 2006 Act have now been laid before Parliament for debate. Published alongside the draft regulations is the Government Response to comments received from consultees.

Background

To reach this point, we have been consulting stakeholders at every stage of the process. The Government consulted in November 2007 on the broad approach to applying the 2006 Act to LLPs. That consultation closed on 6 February 2008 and the Government Response was published in May 2008.
Also in May 2008 the Government published for comment draft regulations applying the accounts and audit provisions of the 2006 Act to LLPs. Those regulations were made in July 2008 and came into effect for LLPs in Great Britain and Northern Ireland on 1st October 2008, for financial years beginning on or after that date.
In applying the remaining provisions of the 2006 Act to LLPs, we want to ensure that LLPs are able to take advantage of the benefits to business of modernising and simplifying company law; remain an attractive corporate vehicle for businesses and retain their distinctive characteristics from companies.

 

Draft Statutory Instrument - published for comment 
The Draft Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009 
Statutory Instruments - MadeRelated Documents
SI2008/1911 The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008Regulations
Explanatory Memorandum
SI2008/1912 The Small Limited Liability Partnerships (Accounts) Regulations 2008Regulations
Explanatory Memorandum
SI2008/1913 The Large and Medium-sized Limited Liability Partnerships (Accounts) Regulations 2008Regulations
Explanatory Memorandum
Consultation 
Government response to the consultation on the proposed application of the Companies Act 2006 to limited liability partnerships
Proposals for the application of the Companies Act 2006 to limited liability partnerships (LLPs): a consultation document

Frequently Asked Questions (FAQs)

To view the FAQ page on Limited Liability Partnerships click here LLP FAQ