Section 5
of International Limited Partnership Order, 2000
Section 5
(1)
Every ILP shall have a name which includes the words “International Limited
Partnership” or the letters “ILP”, and which may include the name of any partner or any derivation thereof.
(2)
No ILP shall have a name which is for the time being prohibited by regulations or which, for any reason whatsoever and whether intentionally or not, is likely to mislead
(whether by similarity to or association with the name of some other person, body, or type of business or otherwise) or which is not acceptable to the ILP Registrar.
Incorporating amendments until S 1/2016
(Clean version) Nani/Amiriah/zimah _ as of 04.05.2019
7
BLUV as at 14 January 2016
(3)
Every ILP shall at all times maintain a registered office in Brunei Darussalam at the registered office of a trust corporation to which all notices and other communications may be addressed, and the trust corporation concerned shall display at its registered office in easily legible form the name of such ILPs as have their registered office there.
(4)
An ILP shall keep at its registered office in Brunei Darussalam such accounts and records as are sufficient to show and explain the ILP’s transactions and to disclose with reasonable accuracy, at any time, the financial position of the ILP at that time.
(5)
When an ILP is to be audited, the audit shall be conducted by an approved auditor as defined in section 2 of the International Business Companies Order, 2000.
Modification of general law and potential liability of limited partners.