• 52. 52. Supplementary provisions

    Sections 891 and 892 apply to LLPs, modified so that they read as follows —

    • 891. LLP's name on restoration

      (1) An LLP is restored to the register with the name it had before it was dissolved or struck off the register, subject to the following provisions.
      (2) If at the date of restoration the LLP could not be registered under its former name without contravening section 55 (name not to be the same as another in the Registrar's register of LLP names), it must be restored to the register —
      (a) under another name specified —
      (i) in the case of administrative restoration, in the application to the Registrar, or
      (ii) in the case of restoration under a Court order, in the Court's order, or
      (b) as if its registered number was also its name.
      References to an LLP's being registered in a name, and to registration in that context, shall be read as including the LLP's being restored to the register.
      (3) If an LLP is restored to the register under a name specified in the application to the Registrar, the provisions of

      section 68 (change of name: registration and issue of new certificate of incorporation), and

      section 69 (change of name: effect),

      apply as if the application to the Registrar were notice of a change of name.
      (4) If an LLP is restored to the register under a name specified in the Court's order, the provisions of —

      section 68 (change of name: registration and issue of new certificate of incorporation), and

      section 69 (change of name: effect),

      apply as if the copy of the Court order delivered to the Registrar were notice of a change a name.
      (5) If the LLP is restored to the register as if its registered number was also its name —
      (a) the LLP must change its name within 14 days after the date of the restoration,
      (b) the change may be made by determination of its members,
      (c) the LLP must give notice to the Registrar of the change, and
      (d) sections 68 and 69 apply as regards the registration and effect of the change.
      (6) If the LLP fails to comply with subsection 5(a) or (c) a contravention of the Companies Regulations is committed by —
      (a) the LLP, and
      (b) every designated member of the LLP who is in default.
      (7) A person who commits a contravention of the Companies Regulations under subsection 6 shall be liable to a level 2 fine.

    • 892. Effect of restoration to the register where property has vested as bona vacantia

      (1) The person in whom any property or right is vested by section 876 (property of a dissolved LLP) may dispose of, or of an interest in, that property or right despite the fact that the LLP may be restored to the register under this Chapter.
      (2) If the LLP is restored to the register —
      (a) the restoration does not affect the disposition (but without prejudice to its effect in relation to any other property or right previously vested in or held on trust for the LLP), and
      (b) the Board shall pay to the LLP an amount equal to —
      (i) the amount of any consideration received for the property or right or, as the case may be, the interest in it, or
      (ii) the value of any such consideration at the time of the disposition,
      or, if no consideration was received an amount equal to the value of the property, right or interest disposed of, as at the date of the disposition.
      (3) There may be deducted from the amount payable under subsection (2)(b) the reasonable costs of the Board in connection with the disposition (to the extent that they have not been paid as a condition of administrative restoration or pursuant to a Court order for restoration)."