Companies Act 2006: Primary legislation governing company operations, including share transfers, directors' duties, company decision-making processes, and registration requirements
Partnership Act 1890: Fundamental legislation for traditional partnerships, covering partners' rights and duties, and partnership dissolution provisions
Limited Liability Partnerships Act 2000: Specific legislation for LLPs, including member withdrawal procedures and ownership transfer regulations
Income Tax Act 2007: Tax legislation relevant for personal income tax implications of the buyout
Corporation Tax Act 2010: Tax legislation governing corporate tax implications of the business transfer
Taxation of Chargeable Gains Act 1992: Legislation covering Capital Gains Tax implications and tax treatment of the buyout payment
Employment Rights Act 1996: Employment law considerations, particularly relevant if the departing partner has employee status or if TUPE applies
Financial Services and Markets Act 2000: Regulatory framework for businesses operating in regulated financial sectors
Competition Act 1998: Legislative framework for competition law, relevant for larger businesses where market competition might be affected
Data Protection Act 2018 & UK GDPR: Legislation governing the transfer of personal data and customer information handling during business transitions
