Economic Crime and Corporate Transparency Act 2023

110 Required information about partners

(1) The Limited Partnerships Act 1907 is amended as follows.

(2) In section 3 (interpretation of terms)—

(a) the existing text becomes subsection (1);

(b) in that subsection, at the appropriate places insert—

• ““body corporate” has the same meaning as in the Companies Acts (see section 1173 of the Companies Act 2006);”;”;

• ““managing officer”—

  (a)

  in relation to a company, means a director or shadow director;

  (b)

  in relation to a legal entity the affairs of which are managed by some or all of its members, means one of those members;

  (c)

  in relation to any other legal entity, means an officer of the entity whose functions correspond to that of a director of a company;”;”;

• ““legal entity” means a body corporate or other entity that (in each case) is a legal person under the law by which it is governed;”;

• ““service address” has the same meaning as in the Companies Acts (see section 1141(1) and (2) of the Companies Act 2006).”;

(c) after that subsection insert—

“(2) For the purposes of the definition of “managing officer” in subsection (1), “director” and “shadow director” have the same meanings as in the Companies Acts (see sections 250 and 251 of the Companies Act 2006).

(3) In this section “the Companies Acts” has the meaning given by section 2(1) of the Companies Act 2006.”

(3) In section 4 (definition and constitution of limited partnership), in subsection (4), for “body corporate” substitute “legal entity”.

(4) In section 8A (application for registration)—

(a) in subsection (1)(c), after “each” insert “proposed”;

(b) in subsections (2)(b) and (c), for “name of each” substitute “required information about each proposed”;

(c) in subsection (2)(d), after “each” insert “proposed”;

(d) in subsections (3)(a) and (b), for “name of each” substitute “required information about each proposed”;

(e) after subsection (3) insert—

“(3A) For the required information about a proposed general partner or a proposed limited partner see Part 2 of the Schedule.”

(5) Schedule 4 inserts a Schedule into the Limited Partnerships Act 1907 setting out the required information about partners.