Limited liability partnerships (LLPs) continue to be governed primarily by the Limited Liability Partnerships Act 2000 (the LLP Act). However, the regulations made under the LLP Act in 2001 and 2002 which applied the Companies Act 1985 to LLPs have been replaced by new regulations applying provisions of the Companies Act 2006 (the 2006 Act) instead.
The application of the 2006 Act to LLPs has been achieved by way of a staged process. The 2006 Act's provisions regarding the timing for filing LLP accounts came into effect for financial years beginning on or after 6 April 2008, while the account and audit provisions of the 2006 Act have governed LLPs since 1 October 2008 for financial years beginning on or after that date.
On 1 October last year, The Limited Liability Partnerships (Application of Companies Act 2006) Regulations (SI 2009/1804), as amended by The Limited Liability Partnerships (Amendment) Regulations (SI 2009/1833), applied the remaining relevant provisions of the 2006 Act to LLPs.