Singapore legislation

Section 58

of Limited Liability Partnerships Act 2005

Section 58

Restriction on undischarged bankrupt being manager of limited liability partnership

Amended by40/201940/201940/2019

(1)

Any person who, being an undischarged bankrupt (whether adjudicated bankrupt by a court in Singapore or elsewhere), acts as manager of any limited liability partnership without the leave of the General Division of the High Court or the written permission of the Official Assignee, shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 2 years or to both.

Amended by40/2019

(2)

On an application by an undischarged bankrupt under subsection (1) to the General Division of the High Court or the Official Assignee, the General Division of the High Court or the Official Assignee (as the case may be) may refuse the application or approve the application subject to any conditions that the General Division of the High Court or the Official Assignee may impose.

Amended by40/2019

(3)

The leave of the General Division of the High Court for the purpose of this section is not to be given unless notice of intention to apply for leave has been served on the Official Assignee and the Official Assignee is heard on the application.[33

Amended by40/2019