Limited Liability Partnerships Act 2005 · 2020 Revised Edition · Part 2 · Nature of Limited Liability Partnership
17. Assignment of partner’s interest in distributions
Feedback & supportUnless otherwise provided in the limited liability partnership agreement, a partner may assign the whole or any part of the partner’s interest in the limited liability partnership but only to the extent that the assignee becomes entitled to receive distributions from the limited liability partnership that the partner would otherwise have been entitled to receive.
limited liability partnership agreement
“limited liability partnership agreement”, in relation to a limited liability partnership, means any agreement expressed or implied between the partners of the limited liability partnership or between the limited liability partnership and its partners which determines the mutual rights and duties of the partners and their rights and duties in relation to the limited liability partnership;
An assignment under subsection (1) does not by itself —
cause the partner to cease being a partner of the limited liability partnership; and
entitle the assignee to interfere in the management of the limited liability partnership.[13