385. LLPs excluded from the dormant subsidiaries exemption

An LLP is not entitled to the exemption conferred by section 384 (individual accounts: exemption for dormant subsidiaries) if it was at any time within the financial year in question —

(a) a public interest entity, or
(b) a financial institution, or
(c) a member of an ineligible group (as defined in section 371(2) (LLPs excluded from the small LLPs regime))