Malaysia legislation
Section 57
of LABUAN LIMITED PARTNERSHIPS AND LIMITED LIABILITY PARTNERSHIPS ACT 2010
Section 57
(2)
Notwithstanding subsection (1), a Labuan limited liability partnership is not bound by anything done by a partner in dealing with a person if—
(a)
the partner has in fact no authority to act for the Labuan limited liability partnership in that dealing; and
(b)
the person knows that the partner has no authority or does not know or believe that partner to be a partner of the Labuan limited liability partnership.
Act 707
(3)
Where a person has ceased to be a partner of a Labuan limited liability partnership, that person is to be regarded, in relation to any person dealing with the Labuan limited liability partnership, as still being a partner of the Labuan limited liability partnership unless—
(a)
the person dealing with the Labuan limited liability partnership has notice that the former partner has ceased to be a partner of the Labuan limited liability partnership;
or
(b)
a notice that the former partner has ceased to be a partner of the Labuan limited liability partnership has been delivered to the Authority.
(4)
For the purposes of subsection (2), no person is deemed to have notice of any lack of authority of a partner by reason only that the fact is made available by the Authority for inspection.
Relationship of partners