Malaysia legislation
Section 64
of LABUAN LIMITED PARTNERSHIPS AND LIMITED LIABILITY PARTNERSHIPS ACT 2010
Section 64
(2)
A partner may become a designated partner by and in accordance with an agreement with the other partners, and a partner may cease to be a designated partner in accordance with an agreement with the other partners.
(3)
There must be at least one designated partner, and where no designated partner is appointed then every partner is a designated partner.
(4)
Notwithstanding subsections (1), (2) and (3), a Labuan limited liability partnership may at any time deliver to the Authority—
(a)
a notice that specified partners are to be designated partners; or
(b)
a notice that every person who from time to time is a partner of the Labuan limited liability partnership is a designated partner, and, once the notice is delivered, it shall have effect as if it were stated in the application for registration under sections 30 and 48.
(5)
A notice delivered under subsection (4)—
(a)
shall be in such form as specified by the Authority; and
(b)
shall be signed by a designated partner of the Labuan limited liability partnership or authenticated in a manner as specified by the Authority.
Labuan Limited Partnerships and Limited
Liability Partnerships 59
(6)
A person ceases to be a designated partner if he ceases to be a partner.
Duties and responsibilities of designated partner