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What's New Important due dates for the month of September 2021     

9. Limited liability partnership agreement

(1) Except as otherwise provided by this Act, the mutual rights and duties of the partners of a limited liability partnership, and the mutual rights and duties of the limited liability partnership and its partners, shall be governed-

(a) by the limited liability partnership agreement; and

(b) in the absence of agreement as to any matter set out in the second schedule, by any provision relating to that matter as set out in the second schedule.

(2) The limited liability partnership agreement shall be in the national language or English language, and shall consist of the following particulars:

(a) the name of the limited liability partnership;

(b) the nature of business of the limited liability partnership;

(c) the amount of capital contribution by each partner; and (d) that the partners have agreed to become partners of the limited liability partnership.

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