Section 16
Limited partners’ rights as between themselves
of Labuan Limited Partnerships and Limited Liability Partnerships Act 2010
ActIn forceProvision 16 of 91
Section 16
(1)
Subject to subsection (2), limited partners, in relation to one another, shall rank—
(a)
pari passu in respect of the return of their contributions;
and
(b)
pro rata to those contributions in respect of profits.
(2)
Where there is more than one limited partner, the partnership agreement may provide that one or more of the limited partners is to have greater rights than the other limited partners as to—
(a)
the return of contributions;
(b)
profits; and
(c)
any other matter.