The Limited Liability Partnerships (Register of People with Significant Control) Regulations 2016

4.  Schedules 1, 3 and 4 to the PSC Regulations apply to LLPs, and Schedule 2 to the PSC Regulations applies to LLPs modified so that it reads as follows—

“Regulation 7

““SCHEDULE “2 “PARTICULARS REQUIRED AS TO NATURE OF CONTROL

“PART “1 “First Condition

“1.   “A statement that the person holds or is treated as holding, directly or indirectly, the right to share in more than 25% but not more than 50% of any surplus assets of the LLP on a winding up.

“2.   “A statement that the person holds, directly or indirectly, the right to share in more than 50% but less than 75% of any surplus assets of the LLP on a winding up.

“3.   “A statement that the person holds, directly or indirectly, the right to share in 75% or more of any surplus assets of the LLP on a winding up.

“PART 2 “Second Condition

“4.   “A statement that the person holds, directly or indirectly, more than 25% but not more than 50% of the LLP voting rights in the LLP.

“5.   “A statement that the person holds, directly or indirectly, more than 50% but less than 75% of the LLP voting rights in the LLP.

“6.   “A statement that the person holds, directly or indirectly, 75% or more of the LLP voting rights in the LLP.

“PART 3 “Third Condition

“7.   “A statement that the person holds the right, directly or indirectly, to appoint or remove a majority of the persons who are entitled to take part in the management of the LLP.

“PART 4 “Fourth Condition

“8.   “A statement that the person has the right to exercise, or actually exercises, significant influence or control over the LLP.

“PART 5 “Fifth Condition and Trusts

“9.   “A statement that—

“(a) “the person has the right to exercise, or actually exercises, significant influence or control over the activities of a trust; and

“(b) “the trustees of that trust (in their capacity as such) hold or are treated as holding, directly or indirectly, the right to share in more than 25% but not more than 50% of any surplus assets on a winding up of the LLP.

“10.   “A statement that—

“(a) “the person has the right to exercise, or actually exercises, significant influence or control over the activities of a trust; and

“(b) “the trustees of that trust (in their capacity as such) hold, directly or indirectly, the right to share in more than 50% but less than 75% of any surplus assets on a winding up of the LLP.

“11.   “A statement that—

“(a) “the person has the right to exercise, or actually exercises, significant influence or control over the activities of a trust; and

“(b) “the trustees of that trust (in their capacity as such) hold, directly or indirectly, the right to share in more than 75% of any surplus assets on a winding up of the LLP.

“12.   “A statement that—

“(a) “the person has the right to exercise, or actually exercises, significant influence or control over the activities of a trust; and

“(b) “the trustees of that trust (in their capacity as such) hold, directly or indirectly, more than 25% but not more than 50% of the voting rights in the LLP.

“13.   “A statement that—

“(a) “the person has the right to exercise, or actually exercises, significant influence or control over the activities of a trust; and

“(b) “the trustees of that trust (in their capacity as such) hold, directly or indirectly, more than 50% but less than 75% of the voting rights in the LLP.

“14.   “A statement that—

“(a) “the person has the right to exercise, or actually exercises, significant influence or control over the activities of a trust; and

“(b) “the trustees of that trust (in their capacity as such) hold, directly or indirectly, 75% or more of the voting rights in the LLP.

“15.   “A statement that—

“(a) “the person has the right to exercise, or actually exercises, significant influence or control over the activities of a trust; and

“(b) “the trustees of that trust (in their capacity as such) hold the right, directly or indirectly, to appoint or remove a majority of the members who are entitled to take part in the management of the LLP.

“16.   “A statement that—

“(a) “the person has the right to exercise, or actually exercises, significant influence or control over the activities of a trust; and

“(b) “the trustees of that trust (in their capacity as such) have the right to exercise, or actually exercise, significant influence or control over the LLP.

“PART 6 “Fifth Condition and Firms

“17.   “A statement that—

“(a) “the person has the right to exercise, or actually exercises, significant influence or control over the activities of a firm that, under the law by which it is governed, is not a legal person; and

“(b) “the members of that firm (in their capacity as such) hold or are treated as holding, directly or indirectly, the right to share in more than 25% but not more than 50% of any surplus assets of the LLP on a winding up.

“18.   “A statement that—

“(a) “the person has the right to exercise, or actually exercises, significant influence or control over the activities of a firm that, under the law by which it is governed, is not a legal person; and

“(b) “the members of that firm (in their capacity as such) hold, directly or indirectly, the right to share in more than 50% but less than 75% of any surplus assets of the LLP on a winding up.

“19.   “A statement that—

“(a) “the person has the right to exercise, or actually exercises, significant influence or control over the activities of a firm that, under the law by which it is governed, is not a legal person; and

“(b) “the members of that firm (in their capacity as such) hold, directly or indirectly, the right to share in 75% or more of any surplus assets of the LLP on a winding up.

“20.   “A statement that—

“(a) “the person has the right to exercise, or actually exercises, significant influence or control over the activities of a firm that, under the law by which it is governed, is not a legal person; and

“(b) “the members of that firm (in their capacity as such) hold, directly or indirectly, more than 25% but not more than 50% of the voting rights in the LLP.

“21.   “A statement that—

“(a) “the person has the right to exercise, or actually exercises, significant influence or control over the activities of a firm that, under the law by which it is governed, is not a legal person; and

“(b) “the members of that firm (in their capacity as such) hold, directly or indirectly, more than 50% but less than 75% of the voting rights in the LLP.

“22.   “A statement that—

“(a) “the person has the right to exercise, or actually exercises, significant influence or control over the activities of a firm that, under the law by which it is governed, is not a legal person; and

“(b) “the members of that firm (in their capacity as such) hold, directly or indirectly, 75% or more of the voting rights in the LLP.

“23.   “A statement that—

“(a) “the person has the right to exercise, or actually exercises, significant influence or control over the activities of a firm that, under the law by which it is governed, is not a legal person; and

“(b) “the members of that firm (in their capacity as such) hold the right, directly or indirectly, to appoint or remove a majority of the members who are entitled to take part in the management of the LLP.

“24.   “A statement that—

“(a) “the person has the right to exercise, or actually exercises, significant influence or control over the activities of a firm that, under the law by which it is governed, is not a legal person; and

“(b) “the members of that firm (in their capacity as such) have the right to exercise, or actually exercise, significant influence or control over the LLP.”.