376. Duty to keep accounting records: contravention

Past version: effective from 21/10/2015 - 20/10/2015
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(1) If an LLP fails to comply with any provision of section 375 (duty to keep accounting records), a contravention of the Companies Regulations is committed by every member of the LLP who is in default.
(2) A person does not commit the contravention referred to in subsection (1) if he shows that he acted honestly and that in the circumstances in which the LLP's business was carried on the default was excusable.
(3) A person who commits the contravention referred to in subsection (1) shall be liable to a fine of up to level 5.