# The Small Limited Liability Partnerships (Accounts) Regulations 2008, Paragraph 64: Related party transactions


(1) Particulars may be given of transactions which the LLP has entered into with related parties, and must be given if such transactions are material and have not been concluded under normal market conditions with—
(a) members of the LLP that are related parties; and
(b) undertakings in which the LLP itself has a participating interest.
(2) Particulars of the transactions required to be disclosed under sub-paragraph (1) must include—
(a) the amount of such transactions,
(b) the nature of the related party relationship, and
(c) other information about the transactions necessary for an understanding of the financial position of the LLP.
(3) Information about individual transactions may be aggregated according to their nature, except where separate information is necessary for an understanding of the effects of the related party transactions on the financial position of the LLP.
(4) Particulars need not be given of transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly-owned by such a member.
(5) In this paragraph “related party” has the same meaning as in UK-adopted international accounting standards.

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Source: https://www.legislation.gov.uk/uksi/2008/1912/schedule/1/paragraph/64 (the official version)
Page: https://openlegislation.uk/small-limited-liability-partnerships-accounts-regulations-2008/schedule-1/paragraph-64
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.