- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
33. Section 475 applies to LLPs, modified so that it reads as follows—
475.—(1) An LLP’s annual accounts for a financial year must be audited in accordance with this Part unless the LLP is exempt from audit under—
(a)section 477 (small LLPs), or
(b)section 480 (dormant LLPs).
(2) An LLP is not entitled to any such exemption unless its balance sheet contains a statement by the members to that effect.
(3) An LLP is not entitled to exemption under any of the provisions mentioned in subsection (1)(a) unless its balance sheet contains a statement by the members to the effect that the members acknowledge their responsibilities for complying with the requirements of this Act with respect to accounting records and the preparation of accounts.
(4) The statement required by subsection (2) or (3) must appear on the balance sheet above the signature required by section 414.”
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: