Singapore legislation
Clause 35
Clause 35
Disqualification of managers of limited liability partnerships wound up on grounds of national security or interest
(1)
Subject to subsections (2) and (3), where a limited liability partnership is ordered to be wound up by the High Court under paragraph 3(1)(f) of the Fifth Schedule on the ground that it is being used for purposes against national security or interest, the High Court may, on the application of the Minister, make an order (referred to in this section as a disqualification order) disqualifying any person who is a manager of that limited liability partnership from being a manager of any limited liability partnership for a period of 3 years from the date of the making of the winding up order.
(2)
The High Court shall not make a disqualification order against any person under subsection (1) unless the High Court is satisfied that the person against whom the order is sought has been given not less than 14 days notice of the Minister’s application for the order.
(3)
The High Court shall not make a disqualification order against any person under subsection (1) if such person proves to the satisfaction of the High Court that —
the limited liability partnership had been used for purposes against national security or interest without his consent or connivance; and (b)he had exercised such diligence to prevent the limited liability partnership from being so used as he ought to have exercised having regard to the nature of his function in that capacity and to all the circumstances.
(4)
Any person who contravenes a disqualification order made under subsection (1) 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.