Singapore legislation

Section 28

of Limited Liability Partnerships Act 2005

Section 28

Minimum of 2 partners

(1)

Every limited liability partnership must have at least 2 partners.

(2)

If a limited liability partnership carries on business with fewer than 2 partners for a period of more than 2 years, a person is (despite section 12(1) and (2)) personally liable, jointly and severally with the limited liability partnership, for any obligation of the limited liability partnership incurred during the period that the limited liability partnership so carries on business after those 2 years if, at the time the obligation was incurred, the person —

(a)

was a partner of the limited liability partnership; and

(b)

knew that the limited liability partnership was carrying on business with fewer than 2 partners for a period of more than 2 years.[22

Read in full context — Limited Liability Partnerships Act 2005 →