Do standard Memorandum and Articles of Association apply to an LLP?
It is important to remember that an LLP has no fall-back constitution – there is no equivalent of Memorandum and Articles of Association or Table A. In addition, the applicable legislation does not provide a detailed regulatory framework in relation to the governance and practical operation of LLP’s. The management structure and other matters should therefore be addressed by the members in a separate LLP agreement. Any such LLP agreement is not registered at Companies House and it remains a private document. It is advisable to have an LLP agreement in place.
