858. Petition by LLP member

Past version: effective from 21/10/2015 - 20/10/2015
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(1) A member of an LLP may apply to the Court by petition for an order under this Part on the ground —
(a) that the LLP's affairs are being or have been conducted in a manner that is unfairly prejudicial to the interests of members generally or of some part of its members (including at least himself), or
(b) that an actual or proposed act or omission of the LLP (including an act or omission on its behalf) is or would be so prejudicial.
(2) For the purposes of subsection (1)(a), a removal of the LLP's auditor from office —
(a) on grounds of divergence of opinions on accounting treatments or audit procedures, or
(b) on any other improper grounds,
shall be treated as being unfairly prejudicial to the interests of some part of the LLP's members.
(3) The members of an LLP may by unanimous agreement exclude the right contained in subsection (1) either indefinitely or for such period as is specified in the agreement. The agreement must be recorded in writing.