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Limited Liability Partnerships Regulations 2005

Click here to view earlier versions of Limited Liability Partnerships Regulations 2005.

QFC Reg No 7 – QFC Limited Liability Partnerships Regulations
Enactment Notice
Part 1:
Application, Commencement and Interpretation
 		Article 1 - Citation
Article 2 - Application
Article 3 - Commencement
Article 4 - Language
Article 5 - Interpretation
Part 2:
Establishment and Corporate Capacity 		Article 6 - Limited Liability Partnerships
Article 7 - Corporate capacity
Article 8 - Transactions entered into prior to corporate existence
Part 3:
Incorporation and Registration 		Article 9 - Incorporation of a Limited Liability Partnership
Article 10 - Registration
Part 4:
Membership 		Article 11 - Members
Article 12 - Relationship of Members
Article 13 - Members as agents
Article 14 - Ex-Members
Article 15 - Designated Members
Article 16 - Registration of membership changes
Article 17 - Notices under Article 16
Article 18 - Rights and obligations of Members in the absence of provisions in the Limited Liability Partnership Agreement
Part 5:
Names and Change of Names 		Article 19 - Registration of name
Article 20 - Change of name
Article 21 - Effect of change of name
Article 22 - Power to require change of name
Article 23 - Improper use of "Limited Liability Partnership"
Article 24 - Similarity of names
Part 6:
Registered Office 		Article 25 - Situation of registered office
Article 26 - Change of registered office
Part 7:
Formalities of Carrying on Business 		Article 27 - Minimum membership for carrying on business
Article 28 - Name to appear outside place of Business
Article 29 - Disclosures required of a Limited Liability Partnership in the use of its name
Part 8:
Annual Return 		Article 30 - Duty to deliver annual returns
Article 31 - Contents of annual return
Part 9:
Accounting and Audit Requirements 		Article 32 - Maintenance of accounting Records
Article 33 - Financial year of a Limited Liability Partnership
Article 34 - Limited Liability Partnership accounts
Article 35 - Provision of copy of accounts to Members
Article 36 - Publication of accounts
Article 37 - Qualification of auditor
Article 38 - Appointment and removal of auditor
Article 39 - Remuneration of auditor
Article 40 - Resignation of auditor
Article 41 - Auditor's report to the Members
Article 42 - Powers and duties of auditor
Article 43 - Auditor's right to information
Article 44 - Obstruction of auditor
Part 10:
Branches 		Article 45 - Requirement for registered Branch
Article 46 - Application to register a Branch
Article 47 - Acceptance or refusal of application to register a Branch
Article 48 - Prohibition of Branch with an undesirable name
Article 49 - Principal Representatives
Article 50 - Register of Branches
Article 51 - Records to be kept by Branches
Article 52 - Letterheads
Article 53 - Name to appear outside place of Business
Article 54 - Financial Penalties
Part 11:
Contraventions 		Article 55 - General contraventions
Article 56 - Involvement in contraventions
Article 57 - Imposition of financial penalties
Part 12:
Other powers of the CRO 		Article 58 - Direction to the Limited Liability Partnership to comply with these Regulations
Article 59 - Dissolution of Limited Liability Partnership
Part 13:
Application to Tribunal 		Article 60 - Orders for compensation
Article 61 - Minority Member protection: unfair prejudice
Part 14:
Register of Financing Statements 		Article 62 - Definitions
Article 63 - The Register
Article 64 - Financing statement
Article 65 - Time of filing
Article 66 - Duration of filing
Article 67 - CRO to issue verification statement
Article 68 - Errors in financing statement
Article 69 - Renewal and amendment of filing
Article 70 - Filing of transfers and subordinations
Article 71 - Searches
Article 72 - Debtor may require financing change statement
Part 15:
Interpretation and Definitions 		Article 73 - Interpretation
Article 74 - Definitions
Schedule 1:
Contraventions with Financial Penalties Stipulated
Schedule 2:
Financing Change Statement