LIMITED LIABILITY PARTNERSHIP ACT - eRegulations Kenya

[Pages:79]Limited Liability Partnership

CAP. 30A

LAWS OF KENYA

LIMITED LIABILITY PARTNERSHIP ACT

CHAPTER 30A

Revised Edition 2012 [2011] Published by the National Council for Law Reporting

with the Authority of the Attorney-General

Limited Liability Partnership

CAP. 30A

[Rev. 2012]

Limited Liability Partnership

CAP. 30A

CHAPTER 30A

LIMITED LIABILITY PARTNERSHIP ACT

ARRANGEMENT OF SECTIONS

PART I ? PRELIMINARY

Section 1. Short title. 2. Interpretation.

PART II ? REGISTRAR AND REGISTER OF LIMITED LIABILITY PARTNERSHIPS 3. Appointment and functions of Registrar and other officers. 4. Power of Registrar to refuse registration if information is not adequate. 5. Electronic lodgement of documents with Registrar.

PART III ? NATURE OF LIMITED LIABILITY PARTNERSHIP 6. Limited liability partnership to have separate legal personality. 7. Capacity of limited liability partnership. 8. Partnership Act to apply to limited liability partnership. 9. Who can be partners in a limited liability partnership. 10. Liability of partners in limited liability partnership to be limited. 11. Power of partner to bind the limited liability partnership. 12. How the relationship of partners is to be governed. 13. How a partner ceases to be a member of a limited liability partnership. 14. What is the effect of a partner becoming bankrupt. 15. Partner may assign interest in limited liability partnership.

PART IV ? REGISTRATION OF LIMITED LIABILITY PARTNERSHIPS 16. Registration of body as a limited liability partnership. 17. Requirements for registering limited liability partnerships. 18. Functions of Registrar with respect to the registration of limited liability partnerships. 19. Registrar to refuse registration on certain national security or public interest grounds. 20. Requirements for names of limited liability partnerships. 21. Restrictions on registration of limited liability partnership names. 22. Registrar to notify decision refusing registration and state reasons for the decision. 23. Right to appeal against refusal of registration.

PART V ? CONVERSION OF PARTNERSHIPS AND PRIVATE COMPANIES INTO A LIMITED LIABILITY PARTNERSHIP

24. Conversion from firm to a limited liability partnership. 25. Conversion of a private company to a limited liability partnership.

PART VI ? MANAGEMENT OF LIMITED LIABILITY PARTNERSHIPS 26. Limited liability partnership to have at least two partners. 27. Limited liability partnership to have manager. 28. Provisions that apply when limited liability partnership has more than one manager.

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Limited Liability Partnership

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Section 29. Limited liability partnership to lodge annual declaration of solvency or insolvency with

Registrar. 30. Limited partnership to keep proper accounting records. 31. Limited liability partnership to have registered office in Kenya. 32. Requirements for documents issued by limited liability partnership. 33. Changes to registered details of limited liability partnership to be lodged with

Registrar.

PART VII ? RECEIVERSHIP AND WINDING UP OF A LIMITED LIABILITY PARTNERSHIP

34. Insolvency and winding up of limited partnership.

PART VIII ? MISCELLANEOUS PROVISIONS 35. Power of Minister to make regulations for the purposes of this Act. 36. Power to make procedural rules for the purposes of proceedings under this Act. 37. Repeal of Cap. 30. 38. Transitional provisions.

SCHEDULES

FIRST SCHEDULE ?

DEFAULT PROVISIONS FOR A LIMITED LIABILITY PARTNERSHIP

SECOND SCHEDULE ?

CONVERSION FROM A PARTNERSHIP TO A LIMITED LIABILITY PARTNERSHIP

THIRD SCHEDULE ?

CONVERSION FROM A PRIVATE COMPANY TO A LIMITED LIABILITY PARTNERSHIP

FOURTH SCHEDULE ?

RECEIVERS AND MANAGERS

FIFTH SCHEDULE ?

WINDING UP OF LIMITED LIABILITY PARTNERSHIP

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[Rev. 2012]

Limited Liability Partnership

CAP. 30A

CHAPTER 30A

LIMITED LIABILITY PARTNERSHIP ACT

[Date of assent:11th November, 2011.]

[Date of commencement:16th March, 2012.]

An Act of Parliament to make provision for limited liability partnerships and for connected purposes

[Act No. 42 of 2011, L.N. 15/2012.]

PART I ? PRELIMINARY

1. Short title

This Act may be cited as the Limited Liability Partnership Act, 2011.

2. Interpretation (1) In this Act, unless the context otherwise requires--

"accounting records" include-- (a) invoices, receipts, orders for the payment of money, bills of exchange, cheques, promissory notes, vouchers and other documents of prime entry; and (b) documents and records that record such entries; and (c) such working papers and other documents as are necessary to explain the methods and calculations by which accounts are made up;

"address", in relation to a member of a limited liability partnership, means-- (a) if a natural person, the person's usual residential address; (b) if a body corporate, the body's registered office;

"company" means a company registered under the Companies Act (Cap. 486);

"disposition", in relation to property, includes any conveyance, assignment or transfer of, or any mortgage or charge over, the property;

"identity document" means-- (a) in the case of a person issued with an identity card, the number of the person's identity card; or (b) in the case of a person not issued with an identity card, particulars of the person's passport or other available evidence sufficient to identify the person;

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"limited liability partnership" means a partnership registered under this Act;

"limited liability partnership agreement", in relation to a limited liability partnership, means an agreement (expressed or implied)--

(a) between the partners of the partnership; or (b) between the partnership and its partners, that determines the mutual rights and duties of the partners and their rights and duties in relation to the partnership;

"liquidator" includes the Official Receiver when acting as the liquidator of a corporation;

"manager", in relation to a limited liability partnership, means a person who (whether or not a partner of the partnership) is concerned in, or takes part in, the management of the partnership (whether or not the particulars or consent of that partner to act as such are lodged with Registrar as required under section 27(2));

"Minister" means the Minister for the time being responsible for matter relating to limited liability partnerships;

"misfeasance" includes neglect and omission;

"obligation" includes liability;

"officer", in relation to a limited liability partnership, means-- (a) a manager of the limited liability partnership; (b) a receiver and a manager of a part of the undertaking of the partnership appointed under a power contained in an instrument; or (c) a liquidator of the partnership appointed in a voluntary winding up,

but does not include-- (d) a receiver who is not a manager; (e) a receiver and manager appointed by the Court; or (f) a liquidator appointed by the Court or by the creditors;

"partner", in relation to a limited liability partnership, means a person who has been admitted as a partner in the partnership in accordance with the relevant limited liability partnership agreement;

"powers" includes rights and authorities;

"property" includes things in action;

"record" includes any book, account, document, paper or other source of information compiled, recorded or stored in written form, or on microfilm, or by electronic process, or in any other manner or by any other means;

"Register" means the Register of Limited Liability Partnerships established and maintained under this Act;

"Registrar" means the Registrar of Limited Liability Partnerships appointed or taken to have been appointed under section 3, and includes a Deputy Registrar or Assistant Registrar appointed under that section.

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