Article 59 - Dissolution of Limited Liability Partnership

(1) If the CRO has reason to believe that:
(A) a Limited Liability Partnership or Branch is not carrying on Business or is not in operation;
(B) a Limited Liability Partnership or Branch is acting in contravention of these Regulations; or
(C) it is prejudicial to the interests of the QFC for a Limited Liability Partnership or Branch to remain on the register
it may give notice to the Limited Liability Partnership or Branch that at the conclusion of three months from the date of the notice, the Limited Liability Partnership or Branch shall be struck off the register unless reason is shown to the contrary.
(2) If, by the end of the three month period, the CRO:
(A) has received confirmation that the Limited Liability Partnership or Branch is no longer carrying on Business or is not in operation; or
(B) has not received from the Limited Liability Partnership or Branch sufficient reasons as to why the Limited Liability Partnership or Branch should not be struck off the register
the CRO shall strike the name of the Limited Liability Partnership or Branch off the register and the Limited Liability Partnership or Branch shall be dissolved.
(3) Where a Limited Liability Partnership or Branch is struck off the register under this Article 59, the liability of every Member of the Limited Liability Partnership or relevant Body Corporate, and in the case of striking off of a Branch, the Body Corporate itself continues and may be enforced as if the Limited Liability Partnership or Branch had not been dissolved.