Page:Limited Partnerships Act 2008.pdf/33

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34
NO. 37 OF 2008


registered pursuant to subsections (4) and (5), to be registered under this Act as the particulars of the limited partnership.

(7) This section shall apply subject to any modification that the Minister may prescribe.

Amendment of First and Second Schedules

43. The Minister may, by order published in the Gazette, amend the First and Second Schedules.

Consequential and related amendments to other written laws

44. The provisions of the Acts specified in the first column of the Third Schedule are amended in the manner set out in the second column thereof.

FIRST SCHEDULE

Section 6(3) and (4)

ACTS NOT REGARDED AS TAKING PART IN MANAGEMENT OF LIMITED PARTNERSHIP

1. Contracting with the limited partnership.

2. Acting as an agent or employee of the limited partnership within the scope of the authority conferred by the partners.

3. Acting as an agent or employee of a general partner of the limited partnership or as a trustee or other fiduciary or beneficiary of an estate or trust which is a general partner of the limited partnership, or as a trustee, advisor, shareholder or beneficiary of a business trust or a statutory trust which is a general partner of the limited partnership, or as a director, officer or shareholder of a corporate general partner of the limited partnership.

4. Consulting with and advising the limited partnership or any partners of the limited partnership with respect to the business, affairs or transactions of the limited partnership.

5. Investigating, reviewing, approving or advising on the accounts or affairs of the limited partnership or exercising any rights as a limited partner of the limited partnership.

6. Acting as surety or guarantor for the limited partnership or for a general partner of the limited partnership, either generally or in respect of specific obligations.

7. Enforcing his rights under the partnership agreement (unless those rights are to carry out management functions).