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

27. Compliance officer

(1) A limited liability partnership shall appoint at least one compliance officer from amongst its partners or persons qualified to act as secretaries under the companies Act 1965 who-

   (a) is a citizen or permanent resident of Malaysia; and

   (b) ordinarily resides in Malaysia.

(2) Every limited liability partnership shall ensure that the particulars of every person who acts as a compliance officer of the limited liability partnership and his consent to act as such are lodged with the Registrar.

(3) The compliance officer shall give notice in writing of his intention to vacate the office to the limited liability partnership.
 
(4) Upon giving the notice under subsection (3), the compliance officer may lodge with the Registrar notice of his intention to vacate the office.
 
(5) Where the compliance officer has lodged the notice with the Registrar under subsection (4), the compliance officer shall cease to be the compliance officer of the limited liability partnership on the expiry of one month from the date of the lodgment of the notice.
 
(6) Notwithstanding any provision of this Act, where no compliance officer is appointed then all partners shall be deemed as the compliance officer of the limited liability partnership.
 
(7) A compliance officer shall be-
 
    (a) answerable for the doing of all acts, matters and things as are required to be done by the limited liability partnership under sections 17, 19 and 20; and
 
     (b) personally liable to all penalties including administrative penalties imposed on the limited liability partnership for any contravention of those sections unless he satisfies the court hearing the matter that he should not be so liable.
 
(8) Where a limited liability partnership has more than one compliance officer-
 
     (a) anything that is required by this Act to be done by the compliance officer may be done by any one of the compliance officers; and
     (b) anything which constitutes an offence by the compliance officer under this Act constitutes an offence by each of the compliance officers.

 

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