• Consequence of non-delivery

    • 791. Consequence of failure to deliver charges

      (1) This section applies if—
      (a) an LLP creates a charge to which section 784 or 785 applies, and
      (b) the documents required by section 784 or (as the case may be) 785 are not delivered to the Registrar by the LLP or another person interested in the charge before the end of the relevant period allowed for delivery.
      (2) "The relevant period allowed for delivery" is—
      (a) the period allowed for delivery under the section in question, or
      (b) if an order under section 789(3) has been made, the period allowed by the order.
      (3) Where this section applies, the charge is void (so far as any security on the LLP's property or undertaking is conferred by it) against—
      (a) a liquidator of the LLP,
      (b) an administrator of the LLP, and
      (c) a creditor of the LLP.
      (4) Subsection (3) is without prejudice to any contract or obligation for repayment of the money secured by the charge, and when a charge becomes void under this section, the money secured by it immediately becomes payable.