Select Committee on Trade and Industry Annxes to the Report

Annex J


Draft Limited Liability Partnership Bill, Fourth Report of Session 1999-2000, HC 59: Government Response, Eighth Special Report, HC 529

  The Committee committed itself in the autumn of 1997 to looking at the draft Bill, which was expected in late 1997 or early 1998. In was eventually published in September 1998. The Committee heard evidence in December 1998 at the conclusion of the consultation period, and reported in February 1999. The Report gave the Bill approval in principle, subject to a change in the proposed balance of primary and secondary legislation. It favoured the removal of any restrictions on eligibility for LLP status, and some scheme of voluntary funding in the event of insolvency. A number of detailed recommendations were made.

  2.  The Government gave a detailed reply in June 1999. The Minister stated that the process of pre-legislative scrutiny had been a very positive one, and the response provided an unusually detailed explanation of the Government's views. A few recommendations on points identified by the Committee were accepted; a number of others which reflected those put forward by consultees were also accepted.

  3.  Another draft of the Bill and its associated secondary legislation was published thereafter the Bill was introduced in the Lords in November 1999. It received Royal Assent in July 2000. In the course of its passage through both Houses, some general references were made to the Committee's work, but little in detail.

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