Section 55
of Labuan Limited Partnerships and Limited Liability Partnerships Act 2010
Section 55
A Labuan limited liability partnership formed by being registered under this Act is a body corporate and has legal personality separate from that of its partners.
(2)
A Labuan limited liability partnership shall have perpetual succession.
(3)
A Labuan limited liability partnership shall have all the powers of a natural person.
(4)
A Labuan limited liability partnership shall, by its name, be capable of—
(a)
suing and being sued;
(b)
acquiring, owning, holding and developing or disposing of property, both movable and immovable; and
(c)
having a common seal.
(5)
Any change in the partners of a Labuan limited liability partnership shall not affect the existence, rights or liabilities of the Labuan limited liability partnership.