Application of the 1986 Act to limited liability partnerships
5.—(1) Subject to paragraphs (2) and (3), the following provisions of the 1986 Act, shall apply to limited liability partnerships—
(a)Parts I, II, III, IV, VI and VII of the First Group of Parts (company insolvency; companies winding up),
(b)the Third Group of Parts (miscellaneous matters bearing on both company and individual insolvency; general interpretation; final provisions)().
(2) The provisions of the 1986 Act referred to in paragraph (1) shall apply to limited liability partnerships, except where the context otherwise requires, with the following modifications—
(a)references to a company shall include references to a limited liability partnership;
(b)references to a director or to an officer of a company shall include references to a member of a limited liability partnership;
(c)references to a shadow director shall include references to a shadow member;
(d)references to the 1985 Act, the Company Directors Disqualification Act 1986, the Companies Act 1989() or to any provisions of those Acts or to any provisions of the 1986 Act shall include references to those Acts or provisions as they apply to limited liability partnerships by virtue of the principal Act;
(e)references to the memorandum of association of a company and to the articles of association of a company shall include references to the limited liability partnership agreement of a limited liability partnership;
(f)the modifications set out in Schedule 3 to these Regulations; and
(g)such further modifications as the context requires for the purpose of giving effect to that legislation as applied by these Regulations.
(3) In the application of this regulation to Scotland, the provisions of the 1986 Act referred to in paragraph (1) shall not include the provisions listed in Schedule 4 to the extent specified in that Schedule.