246. Insolvency legislation.

246.     Insolvency legislation.

Certain provisions of the Insolvency Act 19861 concerning insolvency and winding up apply2 to limited liability partnerships ('LLPs')3 with the following modifications to terminology:


    (1)     references to a company include references to a limited liability partnership4;


    (2)     references to a director or to an officer of a company include references to a member5 of a limited liability partnership6;


    (3)     references to a shadow director include references to a shadow member7;


    (4)     references to the Companies Acts, the Company Directors Disqualification Act 1986, the Companies Act 1989 or to any provisions of those Acts or