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681. Registration of allotment of debentures

Past version: effective from 21/10/2015 - 20/10/2015
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(1) An LLP must register an allotment of debentures as soon as practicable and in any event within two months after the date of the allotment.
(2) If an LLP fails to comply with this section, a contravention of the Companies Regulations is committed by —
(a) the LLP, and
(b) every member of the LLP who is in default.
(3) A person who commits a contravention of this section is liable to a level 2 fine.
(4) For the duties of the LLP as to the issue of the debentures, or certificates of debenture stock, see Part 20 (certification and transfer of securities)."