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

23. Power of partner to bind the limited liability partnership

(1) Every partner of a limited liability partnership is the agent of the limited liability partnership.

(2) Notwithstanding subsection (1), a limited liability partnership is not bound by anything done by a partner in dealing with a person if-

   (a) the partner is acting without authority; and

   (b) the person with whom the partner is dealing-

         (i) knows that the partner has no authority; or

         (ii) does not know that he is a partner of the limited liability partnership.

(3) Where a person has ceased to be a partner of a limited liability partnership, the former partner is to be regarded, in relation to any person dealing with the limited liability partnership, as still being a partner of the limited liability partnership unless-

   (a) the person dealing with the limited liability partnership knows that the former partner has ceased to be a partner of the limited liability partnership; or

   (b) a notice that the former partner has ceased to be a partner of the limited liability partnership has been lodged with the Registrar by the limited liability partnership or the former partner.

(4) For the purposes of subsection (2), no person is deemed to have notice of any lack of authority of a partner by reason only that the fact is made available by the Registrar for inspection.

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