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The Legislative Reform (Limited Partnerships) Order 2009

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The Legislative Reform (Limited Partnerships) Order 2009 List of acts
 Selected UK Acts and Regulations
    Wills and probate
 
Crown Copyright Acknowledged
CONTENTS

Statutory Instruments

2009 No. 1940

Regulatory Reform

Partnership

The Legislative Reform (Limited Partnerships) Order 2009

Made                                   21st July 2009

Coming into force                 1st October 2009

1.Title

2.Commencement

3.Overview

4.New section 8: Duty to register

5.New section 8A: Application for registration

6.New section 8B: Name of limited partnership

7.New section 8C: Certificate of registration

8.Consequential and incidental provisions

9.Nothing in this Order permits anything to be done under...

Signature

Explanatory Note

 

The Secretary of State for Business, Innovation and Skills makes the following Order in exercise of the powers conferred by section 1 of the Legislative and Regulatory Reform Act 2006(1) (power to remove or reduce burdens).

The Secretary of State considers that the conditions in section 3(2) of that Act are satisfied in respect of the provision made by this Order.

The Secretary of State has consulted in accordance with section 13(1) and (2) of that Act(2).

The Secretary of State laid a draft Order and an explanatory document before Parliament in accordance with section 14(1) of that Act.

Pursuant to section 15 of that Act, the affirmative resolution procedure (within the meaning of Part 1 of that Act) applies to the making of this Order.

In accordance with section 17(2) of that Act, the draft has been approved by resolution of each House of Parliament after the expiry of the 40-day period referred to in section 17(2).

Title

1.  This Order may be cited as the Legislative Reform (Limited Partnerships) Order 2009.

Commencement

2.  This Order comes into force on 1st October 2009 and applies to limited partnerships for which registration applications are received on or after that day.

Overview

3.—(1) This Order makes provision about the registration of limited partnerships under the Limited Partnerships Act 1907(1).

(2) Articles 4 to 7 of this Order form a series of new sections to be inserted in the 1907 Act in place of section 8 (manner and particulars of registration).

New section 8: Duty to register

4.  The new section 8 is as follows—

“8    Duty to register

The registrar shall register a limited partnership if an application is made to the registrar in accordance with section 8A.”

New section 8A: Application for registration

5.  The new section 8A is as follows—

“8A    Application for registration

(1) An application for registration must—

(a)specify the firm name, complying with section 8B, under which the limited partnership is to be registered,

(b)contain the details listed in subsection (2),

(c)be signed or otherwise authenticated by or on behalf of each partner, and

(d)be made to the registrar for the part of the United Kingdom in which the principal place of business of the limited partnership is to be situated.

(2) The required details are—

(a)the general nature of the partnership business,

(b)the name of each general partner,

(c)the name of each limited partner,

(d)the amount of the capital contribution of each limited partner (and whether the contribution is paid in cash or in another specified form),

(e)the address of the proposed principal place of business of the limited partnership, and

(f)the term (if any) for which the limited partnership is to be entered into (beginning with the date of registration).”

New section 8B: Name of limited partnership

6.  The new section 8B is as follows—

“8B     Name of limited partnership

(1) This section sets out conditions which must be satisfied by the firm name of a limited partnership as specified in the application for registration.

(2) The name must end with—

(a)the words “limited partnership” (upper or lower case, or any combination), or

(b)the abbreviation “LP” (upper or lower case, or any combination, with or without punctuation).

(3) But if the principal place of business of a limited partnership is to be in Wales, its firm name may end with—

(a)the words “partneriaeth cyfyngedig” (upper or lower case, or any combination), or

(b)the abbreviation “PC” (upper or lower case, or any combination, with or without punctuation).”

New section 8C: Certificate of registration

7.  The new section 8C is as follows—

“8C     Certificate of registration

(1) On registering a limited partnership the registrar shall issue a certificate of registration.

(2) The certificate must be—

(a)signed by the registrar, or

(b)authenticated with the registrar’s seal.

(3) The certificate must state—

(a)the firm name of the limited partnership given in the application for registration,

(b)the limited partnership’s registration number,

(c)the date of registration, and

(d)that the limited partnership is registered as a limited partnership under this Act.

(4) The certificate is conclusive evidence that a limited partnership came into existence on the date of registration.”

Consequential and incidental provisions

8.  In section 5 of the Limited Partnerships Act 1907 (registration of limited partnership required) the words from “or in default thereof” to the end cease to have effect.

Consequential and incidental provisions

9.  Nothing in this Order permits anything to be done under section 17 of the Limited Partnerships Act 1907 (rules) that could not otherwise have been done.

 
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Crown Copyright Acknowledged
 
 

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