876. Property of a dissolved LLP

Past version: effective from 21/10/2015 - 20/10/2015
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(1) When a LLP is dissolved, all property and rights whatsoever vested in or held on trust for the LLP immediately before its dissolution (but not including property held by the LLP on trust for another person) are deemed to be bona vacantia and —
(a) accordingly belong to the Board, and
(b) vest and may be dealt with in the same manner as other bona vacantia accruing to the Board.
(2) Subsection (1) has effect subject to the possible restoration of the LLP to the register under Chapter 3 (see section 892).