Civil Penalties
Please note: These guidance notes are not intended to be definitive legal advice and should not be relied upon as such. The interpretation of legislation is a matter on which the Guernsey Registry cannot advise and entities/individuals need to form their own independent view on compliance with the legislation. Independent legal advice is advised where there is any uncertainty.
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Limited Liability Partnership - Civil Penalties
In order to support both the Bailiwick of Guernsey and the Registrar to meet the Financial Action Task Force (FATF) Recommendations 24 (transparency of beneficial ownership of legal persons) and 40 (international co-operation), new legislation has recently been passed, which enhances the Limited Liability Partnerships Fees and Penalty Regulations - full details of these penalties can be found under 'The Limited Liability Partnerships (Registrar) (Fees and Penalties) (Amendment) Regulations 2023, 'The Limited Liability Partnerships (Registrar) (Fees and Penalties) (Amendment) (No 2) Regulations, 2023 and 'The Limited Liability Partnerships (Registrar) (Fees and Penalties) (Amendment) (No 3) Regulations 2023'.
The previous (2014 Regulations) legislation outlined the penalty for failure to comply with s30(1) of the Law (provision of correspondence etc to state conversion to an LLP, and name of former firm (s30(2)) whereas the new and amended legislation sets out further instances where a civil penalty will also be applied - a table briefly outlining the failures/breaches relative to The Limited Liability Partnerships (Guernsey) Law 2013 and associated penalties is added to the guidance document, which is attached below, for information purposes.
| Guidance Note | Description |
|---|---|
 Limited Liability Partnership - Civil Penalties [189kb] | FAQs on civil penalties for a Limited Liability Partnership |
