Amendments proposed to the Limited Liability Partnerships Bill [Lords], As Amended - continued	House of Commons
back to previous text

---

   

Mr Austin Mitchell
Mr Jim Cousins

28

Page     10,     line     10     [Clause     14],     at end insert—

    '(4) In the event of a limited liability partnership being declared insolvent, the administrator, receiver or liquidator may apply to the court to recover withdrawals of the partnership's property by a member within the five years prior to winding-up at any time when that member knew that the firm was insolvent or would be made insolvent by the withdrawal.'.

   

Mr John Burnett

7

Page     10,     line     15     [Clause     15],     after 'to', insert 'bodies corporate recognised by the Law Society under section 9 of the Administration of Justice Act 1985,'.

   

Mr John Burnett

8

Page     10,     line     17     [Clause     15],     after 'to', insert 'bodies corporate recognised by the Law Society under section 9 of the Administration of Justice Act 1985,'.

   

Mrs Angela Browning
Mr Nick Gibb
Mrs Eleanor Laing

2

Page     10,     line     22     [Clause     15],     at end insert—

    '(2) Section 458 of the Companies Act 1985 (punishment for fraudulent trading) shall apply to limited liability partnerships.'.

   

Mrs Angela Browning
Mr Nick Gibb
Mrs Eleanor Laing

3

Page     10,     line     22     [Clause     15],     at end insert—

    '(2) No regulations made under subsection (1) above shall enable indictable criminal offences punishable by imprisonment to be made applicable to limited liability partnerships, other than those which are contained in the Companies Act 1985 and Insolvency Act 1986 as at 1st June 2000.'.

   

Mr John Burnett

4

Page     10,     line     22     [Clause     15],     at end insert—

    '(2) For the purposes of this section any law relating to bodies corporate recognised by the Law Society under section 9 of the Administration of Justice Act 1985 shall be deemed to be a law relating to companies or other corporations'.

   

Mrs Angela Browning
Mr Nick Gibb
Mrs Eleanor Laing

11

Page     10     [Clause     17],     leave out lines 31 and 32.

---

   

Mr Austin Mitchell
Mr Jim Cousins

15

Page     12,     line     9     [Clause     19],     after 'appoint', insert ', and in any case not before—

(a) in the case of auditors, a duty of care to all stakeholders in companies audited has been established by law; and

(b) in the case of accountancy, appropriate independent regulation has been established;'.

   

Mr Austin Mitchell
Mr Jim Cousins

16

Page     12,     line     9     [Clause     19],     after 'appoint', insert ', but not before the Chancellor of the Exchequer is satisfied that there will be no tax loss to the Exchequer arising from any change of status by limited companies to limited liability partnerships.'.

---

   

Mr Stuart Bell

6

Page     15,     line     15     [Schedule],     leave out 'incorporated as a limited liability partnership with that name,' and insert 'a limited liability partnership or oversea limited liability partnership,'.

---

---

Prepared 28 Jun 2000