Regulation 17 Medium-sized LLPs

(1)

Regulation 26 (medium-sized LLPs) is amended as follows.

(2)

In the table in section 465(3) (LLPs qualifying as medium-sized: general)—

(a)

in item 1 (turnover), for “Not more than £25.9 million” substitute “Not more than £36 million”; and

(b)

in item 2 (balance sheet total), for “Not more than £12.9 million” substitute “Not more than £18 million”.

(3)

In the table in section 466(4) (LLPs qualifying as medium-sized: parent LLPs)—

(a)

in item 1 (aggregate turnover), for “Not more than £25.9 million net (or £31.1 million gross)” substitute “Not more than £36 million net (or £43.2 million gross)”; and

(b)

in item 2 (aggregate balance sheet total), for “Not more than £12.9 million net (or £15.5 million gross)” substitute “Not more than £18 million net (or £21.6 million gross)”.

(4)

In section 467 (LLPs excluded from being treated as medium-sized)—

(a)

for subsection (1)(a) substitute—

“(a)
a traded LLP,”; and

(b)

for subsection (2)(a) substitute—

“(a)
a traded company,”.