Schedule 1: Contraventions with Financial Penalties Stipulated



Article creating contravention Article Maximum Financial Penalty (US$)
16 Failure to notify CRO of membership changes $2,000
20 Failure to notify a change of Name of a Limited Liability Partnership $2,000
22(3) and (5) Limited Liability Partnership failing to change name on direction of CRO $2,000
23 Improper use of "Limited Liability Partnership" $2,000
25 Limited Liability Partnership failing to have a registered office $2,000
26 Failure to register change of name $2,000
27 Failure to notify single Members $2,000
28 Failure of name to appear outside place of business $2,000
29 Limited Liability Partnership failing to have name etc. on certain Documents $1,000
30 Limited Liability Partnership failing to lodge annual return $2,000
32(1) Non-compliant maintenance of accounting Records $1,000
32(2)(A) and (B) Failure to keep and preserve accounting Records $2,000
32(2)(C) Failure to keep accounting Records open to inspection $10,000
33 Failure to notify the CRO of change in financial year $2,000
34(3) Failure of Members to approve and sign accounts $5,000
34(4) Failure to comply with requirements within four months $10,000
35(3) Failure to provide accounts $10,000
36 Publication of accounts without auditors' report $6,000
38 Limited Liability Partnership failing to appoint auditors $10,000
38 Failure to register a change in respect of auditors $2,000
40(1) Failure of auditor to comply with resignation requirements $5,000
40(3) Limited Liability Partnership failing to send notice of auditor's resignation to Members $1,000
40(4) Failure to file auditor's resignation with CRO and if applicable the Regulatory Authority $2,000
41 Failure of auditor to make report as required $5,000
42 Auditor failing to fulfil duties $5,000
42(3)(4)(5) and 43 Limited Liability Partnership and members etc. not co-operating with auditors $5,000
44 Limited Liability Partnership and members etc. obstructing auditor $5,000
48 Failure of Branch to change name on direction of CRO $2,000
49 Failure of Branch to give particulars of Principal Representative $2,000
50(2) Failure of Branch to give notice of change of particulars $2,000
51 Failure of Branch to keep and preserve accounting records $2,000
52 Failure of Branch to have name etc. on certain documents $1,000
53 Failure of Branch to appear outside place of Business $2,000
58 Failure to comply with direction of CRO $15,000


Amended by QFCA RM2012-1 (as from 11th April 2012)