Clause 13
Assignment of partner’s interest in distributions
of Limited Liability Partnerships Bill
BillNot in forceProvision 20 of 67
Clause 13
(1)
Unless otherwise provided in the limited liability partnership agreement, a partner may assign the whole or any part of his 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.
(2)
An assignment under subsection (1) shall not by itself —
(a)
cause the partner to cease being a partner of the limited liability partnership; and
(b)
entitle the assignee to interfere in the management of the limited liability partnership.