4.—(1) Subject to paragraph (2), the provisions of the 1986 Act(1) listed in Schedule 2 shall apply in relation to limited liability partnerships as they apply in relation to companies.
(2) The provisions of the 1986 Act referred to in paragraph (1) shall so apply, with the following modifications–
(a)references to a company shall include references to a limited liability partnership;
(b)references to a director or to an officer of a company shall include references to a member of a limited liability partnership;
(c)references to a shadow director shall include references to a shadow member;
(d)references to the 1985 Act, the Company Directors Disqualification Act 1986(2), the Companies Act 1989(3) or to any provisions of those Acts or to any provisions of the 1986 Act shall include references to those Acts or provisions as they apply to limited liability partnerships by virtue of the principal Act or these Regulations; and
(e)the modifications set out in Schedule 3 to these Regulations.
The provisions of the Insolvency Act 1986 applied by this regulation have been amended as follows: -section 57 was amended by section 3 of, the Insolvency Act 1994 (c. 7); section 162 was amended by section 52 of, and Part III of Schedule 2 to, the Court of Session Act 1988 (c. 36).