Q&As

Can a limited liability partnership pay a distribution in specie?

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Published on LexisPSL on 31/10/2017

The following Corporate Q&A provides comprehensive and up to date legal information covering:

  • Can a limited liability partnership pay a distribution in specie?

The majority of law applicable to limited liability partnerships (LLPs) is actually modified company law rather than partnership law.

The Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009, SI 2009/1804 (2009 Regulations) apply many parts of the Companies Act 2006 (CA 2006), with appropriate modifications, to LLPs. The 2009 Regulations, SI 2009/1804 also apply Parts 1, 2, 3 and 5 of the Companies (Cross-Border Mergers) Regulations 2009, SI 2007/2974 to LLPs. The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, SI 2008/1911 (2008 Regulations) apply parts of CA 2006 in relation to accounts and audit to LLPs with approp

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