The Money Laundering and Terrorist Financing (Amendment) Regulations 2019

Amendment of the Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009

17.—(1) The Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009(1) are amended as follows.

(2) In regulation 65 (records relating to dissolved LLPs), in section 1084 (records relating to LLPs that have been dissolved), as applied with modifications by that regulation, after subsection (3) insert—

“(3A) This section has effect subject to section 1087ZA (required particulars available for public inspection for limited period).”.

(3) In regulation 66 (inspection etc of the register)—

(a) in section 1085 (inspection of the register), as applied with modifications by that regulation, in subsection (3), after “inspection) insert “and section 1087ZA (required particulars available for public inspection for limited period)”;

(b) in section 1086 (right to copy of material on the register), as applied with modifications by that regulation, in subsection (3), after “inspection)” insert “and section 1087ZA (required particulars available for public inspection for limited period)”;

(c) after section 1087 (material not available for public inspection), as applied with modifications by that regulation, insert—

“Required particulars available for public inspection for limited period

1087ZA.— (1) This section applies where—

(a) a notice is given to the registrar by an LLP under section 790VA (notification of changes to the registrar), or

(b) a document is delivered to the registrar by an LLP under section 790ZA (duty to notify registrar of changes).

(2) The notice or document, and any record of the information contained in the notice or document, must not be made available by the registrar for public inspection after the expiration of ten years beginning with the date on which the LLP is dissolved.

(3) The power in section 1084(2) (power of registrar to direct that records of an LLP that has been dissolved may be removed to the Public Record Office etc) may not be exercised in relation to the notice or document, or any record of the information contained in the notice or document, before the expiration of ten years beginning with the date on which the LLP is dissolved.

(4) Subsection (2) does not affect the availability for public inspection of the same information contained in material derived from another description of document in relation to which no such restriction applies.”.

(4) In regulation 67 (correction or removal of material on the register), after section 1095 (rectification of register on application to registrar), as applied with modifications by that regulation, insert—

“Rectification of register to resolve a discrepancy

1095A.— (1) This section applies where—

(a) a discrepancy in information relating to an LLP is reported to the registrar under regulation 30A(2) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (requirement to report discrepancies in information about beneficial ownership), and

(b) the registrar determines, having investigated the discrepancy under regulation 30A(5) of those Regulations, that there is a discrepancy.

(2) The registrar may remove material from the register if doing so is necessary to resolve the discrepancy.”.

(1)

S.I. 2009/1804.