A UK-based individual owns a domain name (.co.uk) but the website that uses it is owned by a limited company registered abroad (in EU). Who is responsible for the content of the site? Can the UK-based individual be hold liable?
I don't live in the U.K. or EU, but a question like this is probably one that will need to be answered by an attorney that specializes in law in your part of the world to be a truly reliable answer. As with most law based questions it probably has a lot of technical aspects to it that only an experienced attorney can answer.
I'm not a lawyer, but I think the owner of the domain could be hold liable. My thought is, that while the owner and the holder might have an inner agreement, the owner is the one representing the site in the UK, especially to the nic. While the owner may have claims against the foreign holder of the domain, I'd say he's responsible. Of course, a lawyer could make sure what's right, but that's the way I see it. Living in germany, btw, and I'm pretty sure that's the way it's working over here. I don't think that there are many technical things to consider, since it's generally the same with the owner of a magazine and his editor in chief. while the editor may "run" the content, the owner is still the one you'd probably (rightfully) turn to if you have any legal claims.