Section 49
of Limited Liability Partnerships Act 2012
Section 49
(a)
in the case of receivership of a limited liability partnership, the provisions of Part VIII (in so far as they relate to a company limited by shares) of the *Companies Act 1965
shall apply; and
(b)
in the case of winding-up of a limited liability partnership by the Court, the provisions of Divisions 2 and 4 of Part X
(in so far as they relate to a company limited by shares)
of the
*Companies Act 1965 and the Companies
(Winding-up) Rules 1972 [P.U. (A) 289/1972] shall apply.
(2)
The application of Part VIII and Divisions 2 and 4 of Part X (in so far as they relate to a company limited by shares) of the
*Companies Act 1965, and the Companies (Winding-up) Rules 1972
under subsection (1) shall be subject to such modifications and adaptations as may be necessary, and in particular the following modifications:
(a)
references to a “company” shall be taken as references to a limited liability partnership;
(b)
references to a “director” or to a “member” of a company shall be taken as references to a partner of a limited liability partnership;
(c)
references to the “memorandum” and “articles of a company” shall be taken as references to the partnership agreement of a limited liability partnership;
(d)
references to a “resolution” of a company shall be taken as
*NOTE—The Companies Act 1965 [Act 125] has been repealed by the Companies Act 2016
[Act 777] w.e.f 31 January 2017―see subsection 620(1) of Act 777.
Limited Liability Partnerships 45
references to a determination or decision of a limited liability partnership; and
(e)
references to “shares” of any member of a company shall be taken as references to the interest of any partner of a limited liability partnership.