Clause 37
Disqualification under Companies Act
of Limited Liability Partnerships Bill
BillNot in forceProvision 37 of 67
Clause 37
(1)
A person who is subject to a disqualification or disqualification order under section 149, 149A or 154 of the Companies Act (Cap. 50) shall not act as manager of a limited liability partnership during the period of the disqualification or disqualification order.
(2)
Any person who contravenes 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.