Penalty for LLP non-compliance: fixed fine plus daily escalating penalties capped separately for LLP and designated partners. The amendment replaces sub-section (4) of section 60 to make the limited liability partnership and every designated partner liable to a penalty for default in complying with sub-section (3), providing for a fixed initial fine, a further daily penalty for continuing default after the first day, and separate maximum penalty caps for the LLP and for each designated partner.
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Provisions expressly mentioned in the judgment/order text.
Penalty for LLP non-compliance: fixed fine plus daily escalating penalties capped separately for LLP and designated partners.
The amendment replaces sub-section (4) of section 60 to make the limited liability partnership and every designated partner liable to a penalty for default in complying with sub-section (3), providing for a fixed initial fine, a further daily penalty for continuing default after the first day, and separate maximum penalty caps for the LLP and for each designated partner.
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