- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (06/02/2019)
- Gwreiddiol (a wnaed Fel)
Version Superseded: 01/04/2019
Point in time view as at 06/02/2019. This version of this provision has been superseded.
You are viewing this legislation item as it stood at a particular point in time. A later version of this or provision, including subsequent changes and effects, supersedes this version.
Note the term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section.
There are currently no known outstanding effects for the The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, Section 24.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
24. Sections 458 to 461 M1 apply to LLPs, modified so that they read as follows—
458.—(1) The Commissioners for Her Majesty's Revenue and Customs may disclose information to the Financial Reporting Review Panel for the purpose of facilitating—
(a)the taking of steps by the Financial Reporting Review Panel to discover whether there are grounds for an application to the court under section 456 (application in respect of defective accounts etc), or
(b)a decision by the Financial Reporting Review Panel whether to make such an application.
(2) This section applies despite any statutory or other restriction on the disclosure of information. Provided that, in the case of personal data within the meaning of the Data Protection Act 1998 (c.29), information is not to be disclosed in contravention of that Act.
(3) Information disclosed to the Financial Reporting Review Panel under this section—
(a)may not be used except in or in connection with—
(i)taking steps to discover whether there are grounds for an application to the court under section 456, or
(ii)deciding whether or not to make such an application,
or in, or in connection with, proceedings on such an application; and
(b)must not be further disclosed except—
(i)to the person to whom the information relates, or
(ii)in, or in connection with, proceedings on any such application to the court.
(4) A person who contravenes subsection (3) commits an offence unless—
(a)he did not know, and had no reason to suspect, that the information had been disclosed under this section, or
(b)he took all reasonable steps and exercised all due diligence to avoid the commission of the offence.
(5) A person guilty of an offence under subsection (4) is liable—
(a)on conviction on indictment, to imprisonment for a term not exceeding two years or a fine (or both);
(b)on summary conviction—
(i)in England and Wales, to imprisonment for a term not exceeding twelve months or to a fine not exceeding the statutory maximum (or both);
(ii)in Scotland or Northern Ireland, to imprisonment for a term not exceeding six months, or to a fine not exceeding the statutory maximum (or both).
(6) Where an offence under this section is committed by a body corporate, every officer of the body who is in default also commits the offence. For this purpose—
(a)any person who purports to act as director, manager or secretary of the body is treated as an officer of the body, and
(b)if the body is a company, any shadow director is treated as an officer of the company.
459.—(1) This section applies where it appears to the Financial Reporting Review Panel that there is, or may be, a question whether an LLP's annual accounts comply with the requirements of this Act.
(2) The Financial Reporting Review Panel may require any of the persons mentioned in subsection (3) to produce any document, or to provide him with any information or explanations, that he may reasonably require for the purpose of—
(a)discovering whether there are grounds for an application to the court under section 456, or
(b)deciding whether to make such an application.
(3) Those persons are—
(a)the LLP;
(b)any member, employee, or auditor of the LLP;
(c)any persons who fell within paragraph (b) at a time to which the document or information required by the Financial Reporting Review Panel relates.
(4) If a person fails to comply with such a requirement, the Financial Reporting Review Panel may apply to the court.
(5) If it appears to the court that the person has failed to comply with a requirement under subsection (2), it may order the person to take such steps as it directs for securing that the documents are produced or the information or explanations are provided.
(6) A statement made by a person in response to a requirement under subsection (2) or an order under subsection (5) may not be used in evidence against him in any criminal proceedings.
(7) Nothing in this section compels any person to disclose documents or information in respect of which a claim to legal professional privilege (in Scotland, to confidentiality of communications) could be maintained in legal proceedings.
(8) In this section “document” includes information recorded in any form.
460.—(1) This section applies to information (in whatever form) obtained in pursuance of a requirement or order under section 459 (power of Financial Reporting Review Panel to require documents etc) that relates to the private affairs of an individual or to any particular business.
(2) No such information may, during the lifetime of that individual or so long as that business continues to be carried on, be disclosed without the consent of that individual or the person for the time being carrying on that business.
(3) This does not apply—
(a)to disclosure permitted by section 461 (permitted disclosure of information obtained under compulsory powers), or
(b)to the disclosure of information that is or has been available to the public from another source.
(4) A person who discloses information in contravention of this section commits an offence, unless—
(a)he did not know, and had no reason to suspect, that the information had been disclosed under section 459, or
(b)he took all reasonable steps and exercised all due diligence to avoid the commission of the offence.
(5) A person guilty of an offence under this section is liable—
(a)on conviction on indictment, to imprisonment for a term not exceeding two years or a fine (or both);
(b)on summary conviction—
(i)in England and Wales, to imprisonment for a term not exceeding twelve months or to a fine not exceeding the statutory maximum (or both);
(ii)in Scotland or Northern Ireland, to imprisonment for a term not exceeding six months, or to a fine not exceeding the statutory maximum (or both).
(6) Where an offence under this section is committed by a body corporate, every officer of the body who is in default also commits the offence. For this purpose—
(a)any person who purports to act as director, manager or secretary of the body is treated as an officer of the body, and
(b)if the body is a company, any shadow director is treated as an officer of the company.
461.—(1) The prohibition in section 460 of the disclosure of information obtained in pursuance of a requirement or order under section 459 (power of Financial Reporting Review Panel to require documents etc) that relates to the private affairs of an individual or to any particular business has effect subject to the following exceptions.
(2) It does not apply to the disclosure of information for the purpose of facilitating the carrying out by the Financial Reporting Review Panel of its functions under section 456.
(3) It does not apply to disclosure to—
(a)the Secretary of State,
(b)the Department of Enterprise, Trade and Investment for Northern Ireland,
(c)the Treasury,
(d)the Bank of England,
[F1(e) Financial Conduct Authority,
(ea)Prudential Regulation Authority, or]
(f)the Commissioners for Her Majesty's Revenue and Customs.
(4) It does not apply to disclosure—
(a)for the purpose of assisting the body known as the Professional Oversight Board established under the articles of association of the Financial Reporting Council Limited (registered number 02486368) to exercise its functions under Part 42 of this Act;
(b)with a view to the institution of, or otherwise for the purposes of, disciplinary proceedings relating to the performance by an accountant or auditor of his professional duties;
(c)for the purpose of enabling or assisting the Secretary of State or the Treasury to exercise any of their functions under any of the following—
(i)the Companies Acts,
(ii)Part 5 of the Criminal Justice Act 1993 (c.36) (insider dealing),
(iii)the Insolvency Act 1986 (c.45) or the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)),
(iv)the Company Directors Disqualification Act 1986 (c.46) or the Company Directors Disqualification (Northern Ireland) Order 2002 (S.I. 2002/3150 (N.I. 4)),
(v)the Financial Services and Markets Act 2000 (c.8);
(d)for the purpose of enabling or assisting the Department of Enterprise, Trade and Investment for Northern Ireland to exercise any powers conferred on it by the enactments relating to companies, directors' disqualification or insolvency;
[F2(e)for the purpose of enabling or assisting the Bank of England to exercise its functions when acting otherwise than in its capacity as the Prudential Regulation Authority;]
(f)for the purpose of enabling or assisting the Commissioners for Her Majesty's Revenue and Customs to exercise their functions;
(g)for the purpose of enabling or assisting the [F3Financial Conduct Authority or the Prudential Regulation Authority] to exercise its functions under any of the following—
(i)the legislation relating to friendly societiesF4...,
[F5(ia)the legislation relating to a society, other than a society registered as a credit union, which is—
(aa)a registered society within the meaning given by section 1(1) of the Co-operative and Community Benefit Societies Act 2014, or
(ab)a society registered or deemed to be registered under the Industrial and Provident Societies Act (Northern Ireland) 1969,]
(ii)the Building Societies Act 1986 (c.53),
(iii)Part 7 of the Companies Act 1989 (c.40),
(iv)the Financial Services and Markets Act 2000; or
(h)in pursuance of any Community obligation.
(5) It does not apply to disclosure to a body exercising functions of a public nature under legislation in any country or territory outside the United Kingdom that appear to the Financial Reporting Review Panel to be similar to its functions under section 456 for the purpose of enabling or assisting that body to exercise those functions.
(6) In determining whether to disclose information to a body in accordance with subsection (5), the Financial Reporting Review Panel must have regard to the following considerations—
(a)whether the use which the body is likely to make of the information is sufficiently important to justify making the disclosure;
(b)whether the body has adequate arrangements to prevent the information from being used or further disclosed other than—
(i)for the purposes of carrying out the functions mentioned in that subsection, or
(ii)for other purposes substantially similar to those for which information disclosed to the Financial Reporting Review Panel could be used or further disclosed.
(7) Nothing in this section authorises the making of a disclosure in contravention of the Data Protection Act 1998 (c.29).”
Textual Amendments
F1Words in reg. 24 substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 143(a)(i)
F2Words in reg. 24 substituted (1.3.2017) by The Bank of England and Financial Services (Consequential Amendments) Regulations 2017 (S.I. 2017/80), reg. 1, Sch. para. 28
F3Words in reg. 24 substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 143(a)(ii)
F4Words in reg. 24 omitted (1.8.2014) by virtue of The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (Consequential Amendments) Regulations 2014 (S.I. 2014/1815), reg. 1(2), Sch. para. 22(a)
F5Words in reg. 24 inserted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (Consequential Amendments) Regulations 2014 (S.I. 2014/1815), reg. 1(2), Sch. para. 22(b)
Marginal Citations
M1Sections 458, 460 and 461 were amended by paragraphs 244 to 246 of Schedule 1 to S.I. 2008/948.
The Whole Instrument you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Instrument you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
Yr Offeryn Cyfan you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Pwynt Penodol mewn Amser: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Rhychwant ddaearyddol: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Dangos Llinell Amser Newidiadau: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Mae Memoranda Esboniadol yn nodi datganiad byr o ddiben Offeryn Statudol ac yn rhoi gwybodaeth am ei amcan polisi a goblygiadau polisi. Maent yn ceisio gwneud yr Offeryn Statudol yn hygyrch i ddarllenwyr nad oes ganddynt gymhwyster cyfreithiol, ac maent yn cyd-fynd ag unrhyw Offeryn Statudol neu Offeryn Statudol Drafft a gyflwynwyd ger bron y Senedd o Fehefin 2004 ymlaen.
Gallwch wneud defnydd o ddogfennau atodol hanfodol a gwybodaeth ar gyfer yr eitem ddeddfwriaeth o’r tab hwn. Yn ddibynnol ar yr eitem ddeddfwriaeth sydd i’w gweld, gallai hyn gynnwys:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:
liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys