Limited partnerships A limited partner may assign its interest in a limited partnership, subject to the general partner's consent and any contrary agreement between the limited partners. The assignment must be registered at Companies House within seven days of the assignment, and must also be advertised in the London Gazette (or the Edinburgh Gazette in the case of an assignment of interests in a Scottish limited partnership). Unless and until the assignment is advertised in this manner, the assignment will not be effective. The assignment of a limited partnership interest will often be effected by way of a deed of transfer and an accompanying sale and purchase agreement which may contain simple warranties such as those relating to ownership of the limited partnership interests. However, the documentation and the level of detail will vary depending on the nature of the transaction and sophistication of the counter-parties. Most

STOP PRESS: From 6 April 2017, the Insolvency Rules 1986, SI 1986/1925 were revoked and replaced by the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024. The content in this Q&A may have been affected by this change. Annulments of bankruptcy orders For the purposes of this Q&A we have assumed the application has been made by the bankrupt, rather than any other person and that the application is made either under sections 282(1)(a) or 282(1)(b) of the Insolvency Act 1986 (IA 1986). Under rule 6.206(1) of the Insolvency Rules 1986, SI 1986/1925 (IR 1986), an application to the court for the annulment of a bankruptcy order

The statutory provisions governing the revision of defective accounts and reports are set out in: • Part 15 of the Companies Act 2006 (CA 2006), and • Companies (Revision of Defective Accounts and Reports) Regulations 2008, SI 2008/373 (the 2008 Regulations) Power for directors to voluntarily revise accounts and reports CA 2006, s 454 sets out the circumstances when defective accounts and reports may be revised voluntarily by the directors of the company as well as the nature of permitted revisions. Directors of the company may prepare revised annual accounts, directors’ remuneration report, directors’ report or summary financial statements if it appears that the original accounts, report or financial statement did not comply with the requirements of the CA 2006. Where copies of the previous accounts or report have been

For the purpose of this Q&A, it has been assumed that the application for nullity was issued by the court on or after 6 April 2022. The rules relating to the service of an application for a nullity of marriage order are found in the Family Procedure Rules 2010 (FPR 2010), SI 2010/2955, Pt 6. A nullity of marriage order falls within the definition of a matrimonial order (FPR 2010, SI 2010/2955, 2.3), as does, of course, a divorce

STOP PRESS: From 6 April 2017, the Insolvency Rules 1986, SI 1986/1925 were revoked and replaced by the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024. The content in this Q&A may have been affected by this change. Statutory demand For the purposes of this Q&A, we have assumed that the debts specified in the statutory demand are disputed since section 122(1)(f) of the Insolvency Act 1986 (IA 1986) permits the court to wind up a company if it is unable to pay its debts. Our Practice Note: Can you wind-up a company when the debt is disputed? provides further information on disputed debts and winding-up proceedings. IA 1986, s 123

Small claims track—case management Claims on the small claims track are known as small claims and are governed by CPR 27 and CPR PD 27. Parties on the small claims track often act in person (known as litigants in person) and so the case management provisions have been focused and designed to make the dispute resolution process as quick, cheap and straightforward as possible. For further guidance on case management in relation to litigants in person, see Practice Note: Litigants in person—case management and relief from sanctions. The court has a very wide discretion as to the conduct of the proceedings. It is important to be aware that: • many parts of the CPR do not apply to small claims eg CPR 33, which includes provisions on

In proceedings that were issued by the court before 6 April 2022 (the date on which the Divorce, Dissolution and Separation Act 2020 (DDSA 2020) came into effect) a respondent who wished to make an application for a matrimonial order had to make the application for that order within 21 days beginning with the date by which the respondent’s acknowledgment of service was required to be filed, unless the court gave permission to make the application after that time has passed. Following the introduction of ‘no fault divorce’ in DDSA 2020 the position has changed. Under the Family Procedure Rules 2010 (FPR 2010), SI 2010/2955, 7.12(1)(b), a respondent may make an application for a matrimonial or civil partnership order other than an order for the same relief by making that application within 21 days beginning

Legislation If a confiscation order is not satisfied, the prosecution may ask the Crown Court to appoint an enforcement receiver, under section 50 of the Proceeds of Crime Act 2002 (POCA 2002), if the following conditions are met: • a confiscation order is made • it is not satisfied, and • it is not subject to appeal Once an enforcement receiver is appointed under POCA 2002, s 50, the prosecutor may invite the court to confer powers on the receiver in relation to the defendant’s realisable property under POCA 2002, s 51. The court may make the following orders under POCA 2002, s 51(2): • power to take possession of the property • power to manage or otherwise deal with the property • power to realise the property, in such manner

In this Q&A it appears that a company intends to create a charge. Under Part 25 of the Companies Act 2006 (CA 2006) (as amended by the Companies Act 2006 (Amendment of Part 25) Regulations 2013, SI 2013/600), effective from 6 April 2013, all charges created by a UK registered company must be registered at Companies House save for specified exceptions. The company must within 21 days of the creation of the charge deliver particulars to the registrar. Where a charge is created or evidenced by an instrument which is a deed that has been executed and has immediate effect on execution and delivery, that date will be the date of delivery. In

An application for a matrimonial order may be withdrawn at any time before it has been served by giving notice in writing to the court where the proceedings were started (Family Procedure Rules 2010 (FPR 2010), SI 2010/2955, 7.9). See Practice Note: Amended, supplemental and further petitions (pre-DDSA 2020). Once the petition has been served permission would be required for the petition to be dismissed or stayed. In those circumstances an application may be made following the procedure under FPR 2010, SI 2010/2955, Pt 18. See Practice Note: FPR 2010, Part 18 applications—procedure. Where an application is not duly pursued, any party may apply for

Under the Variation of Trusts Act 1958 (VTA 1958), the court may by order approve any arrangement: 'Where property, whether real or personal, is held on trusts arising, whether before or after the passing of this Act, under any will, settlement or other disposition'. The court may approve an arrangement on behalf of: • minors or persons otherwise lacking capacity • unascertained persons • unborns • discretionary beneficiaries under protective trusts Except in the case of discretionary beneficiaries under protective trusts, the court may only approve an arrangement if it 'would be for the benefit of that person'. The courts have construed benefit widely such that it may be a financial, moral or even

The requirements in family proceedings where a party is protected are set out in the Family Procedure Rules 2010 (FPR 2010), SI 2010/2955, Pt 15 and FPR 2010, PD 15A. FPR 2010, SI 2010/2955, 15.2 provides that a protected party must have a litigation friend to conduct proceedings on that party's behalf. The capacity of a party is assessed by reference to the Mental Capacity Act 2005. FPR 2010, PD 15A, para 4.1 confirms that an application to appoint a litigation friend is made using the FPR 2010, SI 2010/2955, Pt 18 procedure. In financial remedy proceedings, an interim application under Part 18 is made in Form D11—Application notice. See Practice Notes: • FPR 2010, Part 18—other applications in proceedings • FPR 2010, Part 18 applications—procedure Regarding evidence, little guidance is given in FPR 2010, save that evidence in support is required. FPR 2010,