Citation and commencement1
1
These Regulations may be cited as the Limited Liability Partnerships (Register of People with Significant Control) Regulations 2016.
2
The following provisions come into force on 30th June 2016—
a
Section 790M(9)(c) as set out in paragraph 31E of Part 8A of the Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009 as inserted by Schedule 1 to these Regulations;
b
Sections 790W to 790ZD as set out in paragraph 31K of Part 8A of those Regulations as inserted by Schedule 1 to these Regulations; and
c
Paragraphs 1 and 3 of Schedule 3 to these Regulations.
3
The remainder of these Regulations come into force on 6th April 2016.
Interpretation2
In these Regulations—
“LLP” means a limited liability partnership incorporated under the Limited Liability Partnerships Act 2000;
“principal Regulations” means the Limited Liability Partnerships (Application of Companies Act 2006) Regulations 20092; and
“PSC Regulations” means the Register of People with Significant Control Regulations 20163.
New Part 8A of the principal Regulations3
In the principal Regulations, after Part 8 insert the Part 8A set out in Schedule 14.
Application of the PSC Regulations4
The PSC Regulations apply to LLPs in accordance with the principal Regulations and Schedule 2 to these Regulations.
Consequential and supplementary amendments5
Schedule 3 to these Regulations contains consequential and supplementary amendments.
Review6
1
The Secretary of State must from time to time—
a
carry out a review of these Regulations;
b
set out the conclusions of the review in a report; and
c
publish the report.
2
The report must in particular—
a
set out the objectives intended to be achieved by the regulatory system established by these Regulations;
b
assess the extent to which those objectives have been achieved; and
c
assess whether those objectives remain appropriate and, if so, the extent to which they could be achieved in another way that imposed less regulation.
3
The first report under this regulation must be published within the period in which the Secretary of State is required to publish a report under section 82 of the Small Business, Enterprise and Employment Act 20155.
4
Reports under this regulation are afterwards to be published at intervals not exceeding five years.