Deed of retirement from a limited liability partnership
Deed of retirement from a limited liability partnership

The following Corporate guidance note provides comprehensive and up to date legal information covering:

  • Deed of retirement from a limited liability partnership
  • Parties
  • Recitals:
  • Schedule 1The Continuing Members
  • Schedule 2The LLP Agreement
  • Schedule 3The LLP Properties

DRAFTING FOR BREXIT: For the latest information on the impact of Brexit on the drafting, negotiation and enforceability of this Precedent, see Practice Note: Brexit—drafting boilerplate clauses.

This Deed of retirement is made on [insert day and month] 20[insert year]

Parties

  1. 1

    [insert name of retiring member] of [insert address] (Retiring Member);

  1. 2

    [insert name] LLP a limited liability partnership (registration number OC [insert number]) whose registered office is at [insert address] (LLP); and

  1. 3

    The persons whose names and addresses are set out in Schedule 1 (Continuing Members).

Recitals:

  1. (A)

    The Retiring Member and Continuing Members are members of the LLP.

  2. (B)

    The Retiring Member is to retire from the LLP on the Retirement Date.

  3. (C)

    The provisions of this deed shall apply to the retirement of the Retiring Member in place of any statutory provisions and any provisions of the LLP Agreement that would otherwise apply to the retirement of the Retiring Member.

The parties agree:

  1. 1

    Definitions and interpretation

    1. 1.1

      In this deed:

    2. Accounting Period

      1. means each period of 12 months ending on the Accounting Reference Date;

      Accounting Reference Date

      1. means [insert date];

      Auditors

      1. means [insert name] or such other firms as the