990. Liability of member in default

Past version: effective from 21/10/2015 - 20/10/2015
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(1) This section has effect for the purposes of any provision of the Companies Regulations to the effect that, in the event of contravention of the Companies Regulations in relation to a LLP, a contravention is committed by every member or, as the case may be, designated member, of the LLP who is in default.
(2) A member or designated member is "in default" for the purposes of the provision if he authorises or permits, participates in, or fails to take all reasonable steps to prevent, the contravention.