Malaysia legislation
Section 55
of LABUAN LIMITED PARTNERSHIPS AND LIMITED LIABILITY PARTNERSHIPS ACT 2010
Section 55
(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.
Limited liability of partners