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The Limited Liability Partnerships (Amendment) Regulations 2005
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3. In the entries relating to modifications to sections 2 to 7 of the 1986 Act where a proposal under section 1 has been made by the limited liability partnership—
(a)in the entry relating to section 2 (procedure where the nominee is not the liquidator or administrator)(1)—
(i)before the entry in relation to subsection (2) insert—
| “subsection (1) | For “the directors do” substitute “the limited liability partnership does”.”, |
(ii)in the entry relating to subsection (2), for “(a)” substitute “(aa)”, and
(iii)in the entry relating to subsection (4) insert at the beginning of the modification to subsection (4) “In paragraph (a)” and at the end insert “In paragraph (b) for “that person” substitute “those designated members”.”,
(b)after the entry relating to section 4 (decisions of meetings) insert—
| “Provisions | Modifications |
|---|---|
| Section 4A (approval of arrangement)(2) | |
| subsection (2) | Omit “— (a)”. For “both meetings” substitute “the meeting”. Omit the words from “, or” to “that section”. |
| subsection (3) | Omit. |
| subsection (4) | Omit. |
| subsection (5) | Omit. |
| subsection (6) | Omit.”, |
(c)in the entry relating to section 5 (effect of approval)(3), omit the entry relating to subsection (1),
(d)in the entry relating to section 6 (challenge of decisions)(4)—
(i)in the entry relating to subsection (1), omit the words ““meetings” substitute “meeting” and for”,
(ii)in the entry relating to subsection (2), for “(a)” substitute “(aa)” and for “(aa) as follows— “(aa)”” substitute “(ab) as follows— “(ab)””,
(iii)in the substituted subsection (4), for “the approval given by the meeting” substitute “any decision approving the voluntary arrangement which has effect under section 4A”, and
(iv)in the entry relating to subsection (5), omit the words “the first” and omit the words “, for the second “meetings” substitute “meeting””,
(e)after the entry relating to section 6 insert—
| “Provisions | Modifications |
|---|---|
| Section 6A (false representations, etc)(5) | |
| subsection (1) | Omit “members or”.”, |
(f)in the entry relating to section 7 (implementation of proposal)(6)—
(i)omit the entry relating to subsection (1),
(ii)insert—
| “subsection (2) | In paragraph (a) omit “one or both of” and for “meetings” substitute “meeting”.”, and |
(g)in the paragraph after the entry relating to section 7, for the words “an administration order is in force in relation to the limited liability partnership” substitute “the limited liability partnership is in administration”.
(1)
Section 2 was amended by section 1 of, and paragraph 3 of Schedule 1 to, and section 2 of, and paragraph 3 of Schedule 2 to, the Insolvency Act 2000.
(2)
Section 4A was inserted by section 2 of, and paragraph 5 of Schedule 2 to, the Insolvency Act 2000.
(3)
Section 5 was amended by section 2 of, and paragraph 6 of Schedule 2 to, the Insolvency Act 2000, by section 248 of, and paragraph 11 of Schedule 17 to, the Enterprise Act 2002 (c. 40) and by section 159 of, and paragraph 43 of Schedule 20 to, the Energy Act 2004 (c. 20).
(4)
Section 6 was amended by section 2 of, and paragraph 7 of Schedule 2 to, the Insolvency Act 2000, by section 248 of, and paragraph 12 of Schedule 17 to, the Enterprise Act 2002 and by section 159 of, and paragraph 44 of Schedule 20 to, the Energy Act 2004.
(5)
Section 6A was inserted by section 2 of, and paragraph 8 of Schedule 2 to, the Insolvency Act 2000.
(6)
Section 7 was amended by section 2 of, and paragraph 9 of Schedule 2 to, the Insolvency Act 2000.
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