72Registration of dissolution or cessation of limited partnership

72 Registration of dissolution or cessation of limited partnership

S. 72(1) amended by No. 30/2003 s. 88(2).

(1) If a limited partnership—

(a) is dissolved; or

(b) ceases to carry on business—

the general partners who were registered immediately before the dissolution or cessation must, as soon as practicable, lodge with the Director a notice of the dissolution or cessation, specifying the date on which it took effect.

S. 72(2) amended by No. 30/2003 s. 88(2).

(2) The notice must be in the form approved by the Director and contain the particulars required by the regulations or the approved form of notice.

S. 72(3) amended by No. 30/2003 s. 88(2).

(3) The Director is required to record in the Register the fact of the dissolution or cessation and the date on which it took effect.

(4) If subsections (1) and (2) are not complied with, each general partner in the limited partnership concerned is guilty of an offence.

S. 73 inserted by No. 43/1992 s. 5.