Section 24 — Modifications to Limited Liability Partnerships Act

(1)During the prescribed period, the Limited Liability Partnerships Act applies as if —

(a)the reference in paragraph 3(2)(a) of the Fifth Schedule to that Act to “$10,000” were a reference to “$100,000”; and

(b)the reference in paragraph 3(2)(a) of the Fifth Schedule to that Act to “3 weeks” were a reference to “6 months”.

(2)For the purpose of paragraph 93(3) of the Fifth Schedule to the Limited Liability Partnerships Act, an officer of the limited liability partnership is not to be treated as having no reasonable or probable ground of expectation of the limited liability partnership being able to pay a debt if the debt is incurred —

(a)in the ordinary course of the business of the limited liability partnership;

(b)during the prescribed period; and

(c)before the appointment of a liquidator of the limited liability partnership.