Common Contracts
1 similar LLP Agreement contracts
Llp agreement template scotlandLLP Agreement • June 1st, 2021
Since the enactment of the Limited Liability Partnerships Act 2000 (LLPA 2000) it has been possible for partnerships to incorporate with limited liability in much the same way as limited companies. When it was first introduced many of the firms the Act was aimed at adopted a wait and see approach to transforming but with risk management becoming increasingly important more and more firms are taking this option more seriously. Basically a Limited Liability Partnership (LLP) is best described as being neither a traditional partnership nor a private limited company but rather a hybrid a cross between them both.Applicable Law LLPs are regulated by the LLPA 2000 the Limited Liability Partnerships Regulations 2001 and (where registered in Scotland) the Limited Liability Partnerships (Scotland) Regulations 2001 which essentially adapt and apply provisions of the Companies Act 1985 and the Insolvency Act 1986 to LLPs. Strictly speaking after the conversion partnership law will no longer apply.
