Limited Liability Partnerships Regulations 2001

PART IIACCOUNTS AND AUDIT

Application of the accounts and audit provisions of the 1985 Act to limited liability partnerships

3.  (1)  Subject to paragraph (2), the provisions of Part VII of the 1985 Act (Accounts and Audit)(1) shall apply to limited liability partnerships.

(2) The enactments referred to in paragraph (1) shall apply to limited liability partnerships, except where the context otherwise requires, 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 other provisions of the 1985 Act and to provisions of the Insolvency Act 1986 shall include references to those provisions as they apply to limited liability partnerships in accordance with Parts III and IV of these Regulations;

(d)the modifications set out in Schedule 1 to these Regulations; and

(e)such further modifications as the context requires for the purpose of giving effect to those provisions as applied by this Part of these Regulations.

(1)

Section 221 was substituted by section 2 of the Companies Act 1989 (c. 40) (the “1989 Act”); section 223 was substituted by section 3 of the 1989 Act; section 226 was substituted by section 4 of the 1989 Act; section 227 was substituted by section 5 of the 1989 Act; sections 229 and 230 were substituted by section 5 of the 1989 Act; section 245C was inserted by section 12 of the 1989 Act; section 248 was substituted by section 13(3) of the 1989 Act and amended by regulation 9 of S.I. 1996/189; section 248A was inserted by regulation 6 of S.I. 1997/220; section 249 was substituted by section 13(3) of the 1989 Act and amended by regulation 6 of S.I. 1992/2452; section 256 was substituted by section 19 of the 1989 Act; section 258 was substituted by section 21(1) of the 1989 Act; section 259 was substituted by section 22 of the 1989 Act; section 261 was substituted by section 22 of the 1989 Act. The footnotes to Schedule 1 to these Regulations provide details of the amendments made to the provisions which are listed in that Schedule.