Limited Liability Partnerships Act 2000

Limited Liability Partnerships Act 2000

2000 CHAPTER 12

Commentary on Sections

Membership

Section 9: Registration of membership changes

Subsection (1) provides that where a person becomes or ceases to be a member or a designated member the registrar must be notified within fourteen days and that a change in the name or address of a member must be notified within twenty eight days.

Subsection (2) states that where all the members of an LLP are designated members notification only needs to be given that a person has ceased to be a member and there needs to be no separate notification that they have ceased to be a designated member.

Subsection (4) provides that, where subsection (1) is not complied with, the LLP and all designated members commit an offence.

Subsection (5) explains that a defence to subsection (4) is available for designated members if they can prove that they took all reasonable steps to ensure that subsection (1) was complied with.

Subsection (6) explains that where a person is guilty of an offence under subsection (4) they would be liable on summary conviction to a fine not exceeding level 5 on the standard scale (currently £5,000).