Section 5 Relationship of members etc.
Northern Ireland
Except as far as otherwise provided by this Act or any other statutory provision, the mutual rights and duties of the members of a limited liability partnership, and the mutual rights and duties of a limited liability partnership and its members, shall be governed—
by agreement between the members, or between the limited liability partnership and its members, or
in the absence of agreement as to any matter, by any provision made in relation to that matter by regulations under section 11(c).
An agreement made before the incorporation of a limited liability partnership between the persons who subscribe their names to the incorporation document may impose obligations on the limited liability partnership (to take effect at any time after its incorporation).
Notes on the whole Act
Textual amendments
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Act repealed (1.10.2008 for certain purposes with effect as mentioned in art. 7(3) of the commencing S.I., otherwise 1.10.2009) by Companies Act 2006 (c. 46), ss. 1286(2)(a), 1295, 1300(2), Sch. 16; S.I. 2008/1886, art. 2(e) (with arts. 6, 7); S.I. 2008/2860, arts. 3(z), 4, Sch. 1 Pt. 2 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch. and S.I. 2009/2476, reg. 2(3)(4)))