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[Finance] Consumer Credit Act 2006 - LLPs?



Stoichkov

Stoichkov

The Miserable Bulgarian
Jul 26, 2004
1,331
Brighton
Hello NSC,

Possibly the dullest thread of the day / week etc...

Does anyone know if Limited Liability Partnerships benefit from the provisions of the Consumer Credit Act which I understand applies to Partnerships and sole traders but I wonder if that extends to LLPs too?

I'm getting some legal advice but thought I'd float it here as its a melting pot of knowledge

Cheers
 




Goldstone1976

Goldstone1976

We Got Calde in!!
Helpful Moderator
NSC Patron
Apr 30, 2013
13,784
Herts
Stoichkov said:
Hello NSC,

Possibly the dullest thread of the day / week etc...

Does anyone know if Limited Liability Partnerships benefit from the provisions of the Consumer Credit Act which I understand applies to Partnerships and sole traders but I wonder if that extends to LLPs too?

I'm getting some legal advice but thought I'd float it here as its a melting pot of knowledge

Cheers
Click to expand...

Oooh. Definitely get some pwopa legil advice, but I'm going to hazard a guess at "no". I think the limited liability nature of an LLP makes it indistinguishable from a standard Ltd Co or PLC for CCA 2006 purposes. Do NOT take this opinion as gospel!
 




studio150

studio150

Well-known member
Jul 30, 2011
29,611
On the Border
Stoichkov said:
Hello NSC,

Possibly the dullest thread of the day / week etc...

Does anyone know if Limited Liability Partnerships benefit from the provisions of the Consumer Credit Act which I understand applies to Partnerships and sole traders but I wonder if that extends to LLPs too?

I'm getting some legal advice but thought I'd float it here as its a melting pot of knowledge

Cheers
Click to expand...

Would LLPs fail the S1 definition of an individual given LLPs are Body Corporate
 


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