Section 463 applies to LLPs, modified so that it reads as follows -

"Liability for false or misleading statements in strategic report or energy and carbon report

463.

(1) A member of an LLP is liable to compensate the LLP for any loss suffered by it as a result of -

(a) any untrue or misleading statement in a strategic report or energy and carbon report, or

(b) the omission from a strategic report or energy and carbon report of anything required to be included in it.

(2) The member is so liable only if -

(a) the member knew the statement to be untrue or misleading or was reckless as to whether it was untrue or misleading, or

(b) the member knew the omission to be dishonest concealment of a material fact.