In February 2007 the Government consulted on the implementation of the Companies Act 2006 (2006 Act). In the consultation document the Government asked for views on the broad approach to applying the 2006 Act to Limited Liability Partnerships (LLPs). This consultation seeks views on the Governments proposals for the application of the 2006 Act to LLPs.

In applying the 2006 Act we want to ensure that LLPs remain an attractive corporate vehicle for businesses; that they maintain an identity distinct from companies; and that the LLP Regulations are up to date, coherent and strike the right balance between the interests of those who want to become LLPs and those who will do business with them.

In particular, we are consulting on:

• The possibility of simplifying the LLP Regulations, to make them easier to access and more coherent.

• The application of the provisions of the 2006 Act where there are corresponding provisions in the Companies Act 1985 applied to LLPs and where the Government proposes to apply these again (with modification for some) to LLPs.

• New provisions of the 2006 Act which the Government proposes to apply to LLPs following the existing approach of applying provisions the 1985 Act which concern LLPs relations with third parties.

• Provisions of the 2006 Act which are new, but which the Government does not propose to apply to LLPs as they relate to the internal management of companies.

We are proposing to apply the provisions on accounts and auditors, cross-border mergers directive, and (subject to consultation responses) e-communications from October 2008. We propose to publish draft regulations on these provisions as soon as practicable after the close of the consultation. For the main implementation of the 2006 Act for LLPs in October 2009 we aim to publish draft regulations for consultation in the middle part of 2008. The consultation is available through our reports and publications page and also through the related documents which are on the left hand side of this page.

The consultation starts: 14 November 2007

Responses to the consultation paper should be posted here by 28th January 2008. An edited version of all comments posted on this site will then be submitted to BERR as the response from the members of the Company Law Forum 

To read the full paper please go the web address below

http://www.dti.gov.uk/bbf/llp/page39897.html 

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