Limited Liability Partnerships Act 2000: Primary legislation governing the formation, structure and operation of Limited Liability Partnerships (LLPs) in the UK. Essential for understanding the fundamental legal framework for LLP interest transfers.
Companies Act 2006: While primarily focused on companies, contains relevant provisions for LLPs regarding registration and filing requirements that must be considered in interest transfers.
Partnership Act 1890: Contains foundational partnership principles that may apply to LLP operations and transfers, particularly regarding partner relationships and basic partnership concepts.
Law of Property (Miscellaneous Provisions) Act 1989: Specifies requirements for written documents and deed execution in property transfers, including requirements for valid assignment documentation.
Financial Services and Markets Act 2000: Relevant when the LLC interest transfer involves regulated activities or financial services. Ensures compliance with financial regulatory requirements.
Tax Legislation: Encompasses various tax considerations including Stamp Duty, Capital Gains Tax, and Income Tax implications of the LLC interest transfer.
Common Law Principles: Relevant case law and principles regarding assignment of rights, contractual obligations, and fiduciary duties that affect LLC interest transfers.
LLP Internal Documents: Existing Members' Agreement, Articles of Association, and any transfer restrictions that must be reviewed and complied with in the assignment process.
