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.

Neville-RolfeParliamentary Under Secretary of State for Business, Innovation and SkillsDepartment for Business, Innovation and Skills