Section 24
of Labuan Limited Partnerships and Limited Liability Partnerships Act 2010
ActIn forceProvision 24 of 91
Section 24
(1)
Except as provided in sections 26 and 27, a Labuan limited partnership shall not be dissolved by an act of the partners until a notice of dissolution signed by a general partner has been filed by that general partner with the Authority.
(2)
When a notice of dissolution is filed with the Authority, the Authority may cancel the registration of the Labuan limited partnership.
(3)
If the Labuan limited partnership is dissolved in contravention of subsection (1), each of the general partners commits an offence and shall, on conviction, be liable to a fine not exceeding ten thousand ringgit.
Labuan Limited Partnerships and Limited
Liability Partnerships 31