Section 21
of Limited Liability Partnerships Order, 2010
Section 21
(1)
A firm may convert to a limited liability partnership by complying with the requirements set out in the Second Schedule.
(2)
Upon such conversion, the partners of the firm, the limited liability partnership to which the firm has converted and the partners of that limited liability partnership shall be bound by the provisions of the Second Schedule.
(3)
The Minister may, with the approval of His Majesty the Sultan and Yang Di-Pertuan and by order published in the Gazette amend the Second Schedule.
(4)
In this section, “convert”, in relation to a firm converting to a limited liability partnership, means a transfer of the property, assets, interests, rights, privileges, liabilities, obligations and the undertaking of the firm to the limited liability partnership in accordance with the Second Schedule.
Conversion from private company to limited liability partnership.