Singapore legislation

Clause 114

of Corporate and Accounting Laws (Amendment) Bill

Clause 114

Amendment of section 63

In the LLP Act, in section 63 —

(a)

in subsections (1) and (2), replace “30 days” with “15 days”;

(b)

replace subsections (4), (5), (6) and (7) with —“(4) At the expiry of the period mentioned in the notice, the Registrar may, unless cause to the contrary is previously shown, strike the name of the limited liability partnership off the register.(5) The limited liability partnership is dissolved on the date and at the time when the Registrar strikes the name of the limited liability partnership off the register.(6) After the Registrar strikes the name of the limited liability partnership off the register, the Registrar must —

(a)

publish a notice in the Gazette of the fact that the name of the limited liability partnership has been struck off the register, and the date and time when the name of the limited liability partnership has been struck off the register; and

(b)

starting on the date and time when the Registrar strikes the name of the limited liability partnership off the register, ensure that any person who obtains any information on the limited liability partnership using the electronic transaction system is also informed that the name of the limited liability partnership has been struck off the register.(7) Despite the dissolution of the limited liability partnership under subsection (5), the liability (if any) of every officer and partner of the limited liability partnership continues and may be enforced as if the limited liability partnership had not been dissolved.(7A) Nothing in this section affects the power of the General Division of the High Court to wind up a limited liability partnership the name of which has been struck off the register.”; and

(c)

in subsection (9)(b), replace “(4)” with “(6)(a)”.