Amendment of the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 200832

1

The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 200840 are amended as follows.

2

In regulation 5 (LLPs subject to the small LLPs regime), in modified section 384 of the Companies Act41 (LLPs excluded from the small LLPs regime)—

a

in subsection (1)—

i

omit “or” at the end of paragraph (b)(i); and

ii

after paragraph (b)(ii) insert—

iii

is a scheme funder of a Master Trust scheme within the meanings given by section 39(1) of the Pension Schemes Act 2017 (interpretation of Part 1), or

b

in subsection (2)—

i

omit “or” at the end of paragraph (d);

ii

insert “or” at the end of paragraph (e); and

iii

after paragraph (e) insert—

f

a scheme funder of a Master Trust scheme within the meanings given by section 39(1) of the Pension Schemes Act 2017 (interpretation of Part 1).

3

In regulation 26 (medium-sized LLPs), in modified section 467 of the Companies Act42 (LLPs excluded from being treated as medium-sized)—

a

in subsection (1)—

i

omit “or” at the end of paragraph (b)(i); and

ii

after paragraph (b)(ii) insert—

iii

is a scheme funder of a Master Trust scheme within the meanings given by section 39(1) of the Pension Schemes Act 2017 (interpretation of Part 1),

b

in subsection (2)—

i

omit “or” at the end of paragraph (d);

ii

insert “or” at the end of paragraph (e); and

iii

after paragraph (e) insert—

f

a scheme funder of a Master Trust scheme within the meanings given by section 39(1) of the Pension Schemes Act 2017 (interpretation of Part 1).

4

In regulation 34 (exemption from audit: small LLPs), in modified section 478 of the Companies Act (LLPs excluded from small LLPs exemption), in paragraph (b)—

a

omit “or” at the end of sub-paragraph (i); and

b

after sub-paragraph (ii) insert—

iii

is a scheme funder of a Master Trust scheme within the meanings given by section 39(1) of the Pension Schemes Act 2017 (interpretation of Part 1), or

5

In regulation 34A43 (exemption from audit: qualifying subsidiaries), in modified section 479B44 of the Companies Act (LLPs excluded from the subsidiary LLPs audit exemption), in paragraph (a)—

a

omit “or” at the end of sub-paragraph (i); and

b

after sub-paragraph (ii) insert—

iii

is a scheme funder of a Master Trust scheme within the meanings given by section 39(1) of the Pension Schemes Act 2017 (interpretation of Part 1), or