UK government consultation on use of i) LPs/LLP as directors of companies, and ii) corporate general partners of LPs/corporate LLP members

In December 2020 the UK government issued a number of further consultations on Corporate Transparency and Register Reform, including 'Consultation on implementing the ban on corporate directors'. This proposes that, in addition to the existing requirement that companies must have at least one director who is a natural (rather than a corporate) person, all corporate directors may themselves only have directors who are natural persons.

Despite the title of the consultation, it is of relevance to limited partnerships (LPs) and LLPs, because it consults on whether:

i) LPs and LLPs should also be allowed to be corporate directors and, if so, whether the proposed new restriction on corporate directors which are companies should apply also to them ie that the partners/members of an LP/LLP which is a director must all be natural persons; and 

ii) whether the restrictions on corporate directors of companies should also apply to corporate partners of LPs/corporate LLP members. 

The consultation is available at https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/942194/Corporate_Directors_Consultation.pdf  and the deadline for responses is 3 February 2021. 

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Second Annual Conference of the Partnership, LLP and LLC Law Forum 10 January 2019

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