Section 33
of Limited Liability Partnerships Order, 2010
Section 33
(1)
Any sum due to a partner of a limited liability partnership in his capacity as a partner shall not be a debt of the limited liability partnership payable to that partner in a case of competition between himself and any other creditor who is not a partner, but any such sum may be taken into account for the purpose of the final adjustment of the rights of the partners among themselves.
(2)
Subsection (1) shall not apply to any sum due to a partner as repayment of a loan made in good faith by him to the limited liability partnership.
Incorporating amendments until S 1/2016
(Cleancopy) NANI/Amiriah/fiqah/Karimah_as of 24th June2019
21
BLUV as at 14th January 2016
Restriction on undischarged bankrupt being manager of limited liability partnership.