Paragraph 55 Guarantees and other financial commitmentsF1

(1)

The total amount of any financial commitments, guarantees and contingencies that are not included in the balance sheet must be stated.

(2)

An indication of the nature and form of any valuable security given by the LLP in respect of commitments, guarantees and contingencies within sub-paragraph (1) must be given.

(3)

The total amount of any commitments within sub-paragraph (1) concerning pensions must be separately disclosed.

(4)

The total amount of any commitments within sub-paragraph (1) which are undertaken on behalf of or for the benefit of—

(a)

any parent undertaking, fellow subsidiary undertaking or any subsidiary undertaking of the LLP, or

(b)

any undertaking in which the LLP has a participating interest,

must be separately stated and those within paragraph (a) must also be stated separately from those within paragraph (b).

Annotations

Textual amendments

F1: Sch. 1 para. 55 substituted (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016 (S.I. 2016/575), regs. 2(1), 41(j)