Regulation 5

Where a claim for relief under section 15(1A) of the Act has been allowed and any matter specified in rule 3 leading to disallowance occurs, then the limited liability partnership shall notify the Commissioner of the circumstances of the occurrence within 30 days from the date of the occurrence.

A limited liability partnership which fails to comply with paragraph (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $1,000.

Where an offence committed under paragraph (2) is proved to have been committed with the consent or connivance of, or to be attributable to any neglect on the part of, a partner or manager of the partnership, then the partner or manager shall also be guilty of the offence and shall be liable to be proceeded against and punished accordingly.