• Part 7: Part 7: Formalities of Carrying on Business

    • Article 27 - Minimum membership for carrying on business

      (1) If a Limited Liability Partnership carries on Business without having at least two Members it must notify the CRO in the Prescribed Form within 21 days of having a single Member.
      (2) If a Limited Liability Partnership carries on Business without having at least two Members and does so for more than three months, a person who, for the whole or any part of the period that it so carries on Business after those three months:
      (A) is a Member of the Limited Liability Partnership; and
      (B) knows that it is carrying on business with only one Limited Liability Partnership) for the payment of the Limited Liability Partnership's debts contracted during the period or, as the case may be, that part of it.
      (3) If the Limited Liability Partnership carries on Business without having at least two Members and does so for more than three months then the CRO may strike the Limited Liability Partnership off the register and the Limited Liability Partnership will be dissolved.
      Amended by QFCA RM2012-1 (as from 11th April 2012)

    • Article 28 - Name to appear outside place of Business

      (1) Every Limited Liability Partnership shall paint or affix, and keep painted or affixed, its name on the outside of every office or place in which its Business is carried on, in a conspicuous position and in letters easily legible.
      (2) If a Limited Liability Partnership does not paint or affix, and keep painted or affixed, its name as required above, the Limited Liability Partnership and every Member of it who is in default is in contravention of these Regulations.

    • Article 29 - Disclosures required of a Limited Liability Partnership in the use of its name

      (1) The name of a Limited Liability Partnership, its registered number and the address of its registered office shall appear in legible characters in all its Business letters, written orders for goods or services, invoices and receipts, written demands for payment and other such similar documentation.
      (2) If a Member of a Limited Liability Partnership or a person on its behalf:
      (A) issues or authorises the issue of any Business letter of the Limited Liability Partnership, or any Document mentioned in Article 29(1) in which the Limited Liability Partnership's name is not mentioned as required by Article 29(1); or
      (B) signs or authorises to be signed on behalf of the Limited Liability Partnership any bill of exchange, promissory note, endorsement, cheque or order for money or goods in which the Limited Liability Partnership's name is not so mentioned as required by Article 29(1)
      he is in contravention of these Regulations and he is further personally liable to the holder of any such bill of exchange, promissory note, cheque or order for money or goods for the amount of it (unless it is duly paid by the Limited Liability Partnership).