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

33. Effect of registration

(1) On and from the date of registration-

   (a) there shall be a limited liability partnership by the name specified in the notice of registration, with all the attributes described in Part ii of this Act and subject to the provisions of this Act;

   (b) all properties vested in the conventional partnership or private company, all interests, rights, privileges, liabilities and obligations relating to the conventional partnership or private company, and the whole of the undertaking of the conventional partnership or private company, as the case may be, shall be transferred to and shall vest in the limited liability partnership without further assurance, act or deed;

   (c) the conventional partnership or private company shall be deemed to be dissolved; and

   (d) the conventional partnership, if registered under the Registration of Businesses Act 1956, shall be removed from the register of businesses maintained under that Act, and the private company shall be removed from the register of companies maintained under the companies Act 1965.

(2) if any property to which paragraph (1)(b) applies is registered with a relevant authority, the limited liability partnership shall, as soon as practicable after the date of registration, take all necessary steps as required by the relevant authority to notify that relevant authority of the conversion and of the particulars of the limited liability partnership in such medium and form as the Registrar may determine.
 
(3) in this Part, "date of registration" means the date as specified in the notice of registration issued under subsection 32(1).
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