Point in time view as at 10/01/2015.
The Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009,
PART 11
is up to date with all changes known to be in force on or before 01 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
47. Section 993 applies to LLPs, modified so that it reads as follows—
993.—(1) If any business of an LLP is carried on with intent to defraud creditors of the LLP or creditors of any other person, or for any fraudulent purpose, every person who is knowingly a party to the carrying on of the business in that manner commits an offence.
(2) This applies whether or not the LLP has been, or is in the course of being, wound up.
(3) A person guilty of an offence under this section is liable—
(a)on conviction on indictment, to imprisonment for a term not exceeding ten years or a fine (or both);
(b)on summary conviction—
(i)in England and Wales or Scotland, to imprisonment for a term not exceeding twelve months or a fine not exceeding the statutory maximum (or both);
(ii)in Northern Ireland, to imprisonment for a term not exceeding six months or a fine not exceeding the statutory maximum (or both).”.
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