Companies Act 2006: The primary legislation governing company formation, operation, and management in England and Wales. While LLCs don't exist in UK law, this Act provides the fundamental framework for limited companies.
Limited Liability Partnerships Act 2000: Although not directly applicable to LLCs, this legislation contains important principles for member-managed businesses that can be adapted for the operating agreement.
Partnership Act 1890: Contains foundational principles for business partnerships that remain relevant to modern business structures and can inform member relationships in the operating agreement.
Companies House Requirements: Regulatory requirements for business registration, filing obligations, and ongoing disclosure requirements that must be considered in the operating agreement.
UK Corporate Governance Code: Best practices for company management and governance that should be reflected in the operating agreement structure.
Small Business, Enterprise and Employment Act 2015: Legislation affecting reporting and transparency requirements for small businesses, which must be accounted for in the operating agreement.
Corporation Tax Act 2010: Key tax legislation that affects how the company's profits are taxed and should be considered in profit distribution provisions.
Income Tax Act 2007: Tax legislation affecting individual members' income from the business, relevant for provisions about distributions and member payments.
Finance Acts: Various annual acts that update tax and financial regulations, which must be considered for ongoing compliance and financial provisions in the operating agreement.
