Partnership and LLP Law
The basic structure of partnership law was set out in the Partnership Act 1890, and limited partnerships were introduced by the Limited Partnerships Act 1907. More recently, the Limited Liability Partnerships Act 2000 created a new form of Limited Liability Partnership (LLP). The rules applying to LLPs have since been extensively updated by two Statutory Instruments in 2008 and 2009 applying to them appropriate parts of the Companies Act 2006, with adaptations.
The Government has also introduced amendments to the law on limited partnerships, based on recommendations made in a joint report by the Law Commission and Scottish Law Commission. These were introduced by a
Legislative Reform Order (LRO)
that came into force on 1 October 2009. In presenting that Order, the Department announced that it would be working on further amendments as part of a programme of modernising limited partnership law. We have now decided not to take forward further amendments of limited partnership law at this stage.
For information on establishing and operating any of the forms of partnership, see the Business Link website.
