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Limited Liability Partnerships Regulations (Northern Ireland) 2004

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PART ICITATION, COMMENCEMENT AND INTERPRETATION

Citation and commencement

1.  These Regulations may be cited as the Limited Liability Partnerships Regulations (Northern Ireland) 2004 and shall come into operation on 13th September 2004.

Interpretation

2.  In these Regulations –

“the 1986 Order” means the Companies (Northern Ireland) Order 1986(1);

“the 1986 Order” means the Insolvency (Northern Ireland) Order 1989(2);

“the 2000 Act” means the Financial Services and Markets Act 2000(3);

“limited liability partnership agreement”, in relation to a limited liability partnership, means any agreement express or implied between the members of the limited liability partnership or between the limited liability partnership and the members of the limited liability partnership which determines the mutual rights and duties of the members, and their rights and duties in relation to the limited liability partnership;

“the principal Act” means the Limited Liability Partnerships Act (Northern Ireland) 2002; and

“shadow member”, in relation to limited liability partnerships, means a person in accordance with whose directions or instructions the members of the limited liability partnership are accustomed to act (but so that a person is not deemed a shadow member by reason only that the members of the limited liability partnership act on advice given by him in a professional capacity).

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