Singapore legislation

Clause 22

Minimum of 2 partners

(1)

Every limited liability partnership shall 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 shall (notwithstanding section 8(1) and (2)) be 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, he —

(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.

Read in full context — Limited Liability Partnerships Bill →