Section 15
Dealings by limited partner with Labuan limited partnership
of Labuan Limited Partnerships and Limited Liability Partnerships Act 2010
ActIn forceProvision 15 of 91
Section 15
(1)
A limited partner may lend money to, borrow money from and enter into transactions with, the general partner on behalf of the Labuan limited partnership.
(2)
Except where the limited partner is also a general partner, a limited partner having, with respect to anything done under subsection (1), a claim against the assets of the Labuan limited partnership shall rank as a creditor of the Labuan limited partnership in respect of such claim.
(3)
For the purposes of this section, a claim under subsection (2)
does not include a claim for a return of capital contributions.
Act 707