Section 14
of International Limited Partnership Order, 2000
Section 14
(1)
Subject to subsection (2), if at any time during the continuance of an ILP any change is made or occurs in any of the matters specified in the statement filed under section 13(1), then, within sixty days of the change, a statement in the prescribed form including, where a new partner is to be admitted an appropriate re-affirmation of the certificate of due diligence under subsection (2) signed on behalf of the trust corporation administering the ILP, specifying the nature of the change shall be filed with the ILP Registrar, accompanied by the prescribed fee.
Incorporating amendments until S 1/2016
(Clean version) Nani/Amiriah/zimah _ as of 04.05.2019
17
BLUV as at 14 January 2016
(2)
Where the statement required by subsection (1) is in respect of any arrangement or transaction in consequence of which any person will cease to be a general partner or whereby the partnership is dissolved or the statement shall be filed with the ILP Registrar within twenty-one days of the arrangement or transaction; and, until the statement is so filed, the arrangement or transaction shall be of no effect for the purposes of this Order or the partnership agreement.
(3)
Where an ILP has incurred a debt or obligation, then, except with the written consent of any person affected thereby, no subsequent arrangement or transaction shall take effect to the extent that it seeks to relieve or discharge a general partner from his obligations as a general partner with regard to that debt or obligation.
[S 7/2001]
(4)
The ILP Registrar may refuse to accept any statement under subsection (1)
which specifies such a change in the name of the ILP as, in his opinion, would result in a contravention of section 5(2).
Default provisions relating to registration.