[Key termsU.K.
This section has no associated Explanatory Memorandum
31B.—(1) Section 790C applies to LLPs with the following modifications.
(2) Read references to a company as references to an LLP.
(3) Subsection (7) is modified so that it reads as follows—
“(7) A legal entity is “subject to its own disclosure requirements” if—
(a)this Part applies to it (whether by virtue of the Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009 or otherwise),
[(aa)it is an eligible Scottish partnership within the meaning of regulation 3(2) of the Scottish Partnerships (Register of People with Significant Control) Regulations 2017.]
(b)[it has voting shares admitted to trading on a [UK regulated market or an EU regulated market]],
(c)it is a company or other legal entity which has voting shares admitted to trading—
(i). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(ii)on a market listed in Schedule 1 to the PSC Regulations.”.
(4) Omit subsection (11).
(5) In subsection (12), omit “and to any modifications prescribed by regulations under this subsection”.
(6) After subsection (12), insert—
“(12A) Sections 790M(2) to [(6A) and (10)] of the Act are to be read and have effect as if a person within subsection (12) were an individual.
(12B) “PSC Regulations” means the Register of People with Significant Control Regulations 2016.
(12C) “Voting shares” means shares ... carrying voting rights.
(12D) For the purposes of subsection (12C), “voting rights” means rights to vote at general meetings of the company or legal entity in question, including rights that arise only in certain circumstances, and in relation to a legal entity that does not have general meetings at which matters are decided by the exercise of voting rights, a reference to voting rights is to be read as a reference to rights in relation to the entity that are equivalent to those of a person entitled to exercise voting rights in a company.
[(12E) “EU regulated market”, “Regulated market” and “UK regulated market” have the same meanings as in section 1173 of the Companies Act 2006.”].
(7) Omit subsections (13) and (14).]