ANGUILLA

 Government of Anguilla
Anguilla Limited Partnership Act I.R.S.A. c. 7
I.R.S.A. c. 7 Limited Partnership Act Anguilla

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I.R.S.A. c. 7 Limited Partnership Act Anguilla

Saving of existing laws

2. The rules of common law and equity applicable to partnership as modified by the Partnership
Ordinance, 1994 shall apply to limited partnersh.1fppt0.0004 T6ft.9( to i1.2(rtnsof.2(d pa) .2(d pafpptth.2(rtn).2(pply)are.9( to

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(c) the rights and obligations of the partners amongst themselves.

(2) The partnership agreement is binding upon the partners and their assigns and upon
partners who are admitted to the limited partnership after the execution of the partnership agreement

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Anguilla Limited Partnership Act I.R.S.A. c. 7

(7) Each general partner who contravenes subsection (6) commits an offence.

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(b) consulting with and advising a general partner with respect to the business of the
partnership;

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I.R.S.A. c. 7 Limited Partnership Act Anguilla

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7(4), register the change of particulars in the Register and issue a certificate of change in registered
particulars.

(7) Where the change in respect of which a certificate is issued under subsection (6) relates to
a change in the name of a limited partnership or to a change in the registered office or registered agent
of a limited partnership, the change takes effect upon the date of the certificate issued by the Registrar
under subsection (6).

Annual return
13.

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(c) constitute prima facie evidence of the matters which by subsection (1) are directed to
be entered therein.

(3) If default is made in compliance with this section, each general partner in default commits
an offence and each such general partner shall indemnify any person who thereby suffers any loss.

Partnership property
15. Property of a limited partnership which is—

h r o (a)o transferred
t to,
d vested
e rin orr helde by for ons behalf
n ofa a general
r t partner;
) b or(

shall be held or deemed to be held by the general partner or, if there is more than one, by the general
partners jointly and severally, on trust as an asset of the partnership in accordance with the terms of
the pae ptnership agreement.

Proceedings
16. (1) Subject to subsection ( p2), legal proceedings by or against a limited partnership may be
inst.(rm)19.2(s )-10.9(of)]TJT*0.nl8t ( p heains(if )10.0.5(t a )10.( or ag3.4(net( loss.)]TJ/Fins)ne4(ld i8de in (h)1.9(an or)-2.2(e )

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implied term of the partnership agreement to the contrary, assign either absolutely or by way of
msrtgage the whole or any part of his partnership interest but, subject to such consent, an assignee
shall, to the extent of such assignment, become a limited partner with the rights and subject to the
obligations of the assignlie(and, subjecteas seteforth below wholly liepartly in place of and to the
exclusion of the assignlieas the case may be) in accordance with the partnership agreement and this
Act in respect of the partnership inte1(e)0.est liepar the1(e)0.eof assigned.

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Cases where a person ceases to be a limited partner20.

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(a) it is not reasonably practicable to carry on the partnership business in accordance with
the partnership agreement;

(b) the partnership is insolvent;

(c) there has been, in relation to the partnership, a failure to change the name of the
partnership following a direction of the Registrar issued under section 5;

(d) the partnership is being conducted in a manner that is—

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I.R.S.A. c. 7 Limited Partnership Act Anguilla