LLP's name on restoration1033

1

An LLP is restored to the register with the name it had before it was dissolved or struck off the register, subject to the following provisions.

2

If at the date of restoration the LLP could not be registered under its former name without contravening section 66 (name not to be the same as another in the registrar's index of names), it must be restored to the register—

a

under another name specified—

i

in the case of administrative restoration, in the application to the registrar, or

ii

in the case of restoration under a court order, in the court's order, or

b

as if its registered number was also its name.

References to an LLP's being registered in a name, and to registration in that context, shall be read as including the LLP's being restored to the register.

3

If an LLP is restored to the register under a name specified in the application to the registrar, the provisions of—

• paragraph 5 of the Schedule to the Limited Liability Partnerships Act 2000 (c. 12) (change of name: registration and issue of certificate of change of name), and

• paragraph 6 of that Schedule (change of name: effect),

apply as if the application to the registrar were notice of a change of name.

4

If an LLP is restored to the register under a name specified in the court's order, the provisions of—

• paragraph 5 of the Schedule to the Limited Liability Partnerships Act 2000 (c. 12) (change of name: registration and issue of certificate of change of name), and

• paragraph 6 of that Schedule (change of name: effect),

apply as if the copy of the court order delivered to the registrar were notice of a change a name.

5

If the LLP is restored to the register as if its registered number was also its name—

a

the LLP must change its name within 14 days after the date of the restoration,

b

the change may be made by determination of the members,

c

the LLP must give notice to the registrar of the change, and

d

paragraphs 5 and 6 of the Schedule to the Limited Liability Partnerships Act 2000 (c. 12) apply as regards the registration and effect of the change.

6

If the LLP fails to comply with subsection (5)(a) or (c) an offence is committed by—

a

the LLP, and

b

every designated member of the LLP who is in default.

7

A person guilty of an offence under subsection (6) is liable on summary conviction to a fine not exceeding level 5 on the standard scale and, for continued contravention, a daily default fine not exceeding F1one-tenth of level 5 on the standard scaleF1one-tenth of the greater of £5,000 or level 4 on the standard scale.

Effect of restoration to the register where property has vested as bona vacantia1034

1

The person in whom any property or right is vested by section 1012 (property of dissolved LLP to be bona vacantia) may dispose of, or of an interest in, that property or right despite the fact that the LLP may be restored to the register under this Chapter.

2

If the LLP is restored to the register—

a

the restoration does not affect the disposition (but without prejudice to its effect in relation to any other property or right previously vested in or held on trust for the LLP), and

b

the Crown or, as the case may be, the Duke of Cornwall shall pay to the LLP an amount equal to—

i

the amount of any consideration received for the property or right or, as the case may be, the interest in it, or

ii

the value of any such consideration at the time of the disposition,

or, if no consideration was received an amount equal to the value of the property, right or interest disposed of, as at the date of the disposition.

3

There may be deducted from the amount payable under subsection (2)(b) the reasonable costs of the Crown representative in connection with the disposition (to the extent that they have not been paid as a condition of administrative restoration or pursuant to a court order for restoration).

4

Where a liability accrues under subsection (2) in respect of any property or right which before the restoration of the LLP to the register had accrued as bona vacantia to the Duchy of Lancaster, the Attorney General of that Duchy shall represent Her Majesty in any proceedings arising in connection with that liability.

5

Where a liability accrues under subsection (2) in respect of any property or right which before the restoration of the LLP to the register had accrued as bona vacantia to the Duchy of Cornwall, such persons as the Duke of Cornwall (or other possessor for the time being of the Duchy) may appoint shall represent the Duke (or other possessor) in any proceedings arising out of that liability.

6

In this section the “Crown representative” means—

a

in relation to property vested in the Duchy of Lancaster, the Solicitor to that Duchy;

b

in relation to property vested in the Duke of Cornwall, the Solicitor to the Duchy of Cornwall;

c

in relation to property in Scotland, the Queen's and Lord Treasurer's Remembrancer;

d

in relation to other property, the Treasury Solicitor.