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Limited Liability Partnerships Act 2000

Limited Liability Partnerships Act 2000

2000 CHAPTER 12

Commentary on Sections

Membership

Section 4: Members

Subsection (1) The first members of an LLP are those who signed the incorporation document.

Subsection (2) After incorporation, any person may become a member of an LLP by agreement with the existing members.

Subsection (3)A person may cease to be a member by death, dissolution and in accordance with any agreement with the other members of the LLP. Where there is no agreement a member may cease to be a member by giving reasonable notice to the other members.

Subsection (4) A member of an LLP will not be regarded as an employee of the entity, unless, if he and the other members were partners in a partnership, he would be regarded as an employee.

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