TNAG-2378-FCO40-3457-Hong-Kong-nationality-British-Nationality-(Hong-Kong)-Act-19-1991 — Page 22

Limited Partnerships

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Limited Partnerships

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MUST I REGISTER A LIMITED PARTNERSHIP?

Yes, you must. Until your partnership is registered, it will be regarded as a general partnership with both the

general and limited partners equally responsible for

any debts or obligations incurred.

HOW DO I REGISTER MY LIMITED PARTNERSHIP?

A limited partnership must be registered in accordance

with the provisions of the Limited Partnership Act

1907. To register you must deliver a statement, (form

LP5), signed by all the partners, to the Registrar at the

Companies House in that part of the United Kingdom in

which the principal place of business is situated or

proposed to be situated.

Partnerships whose principal place of business is situated

or proposed to be situated in England and Wales should

send their forms to the Cardiff Office listed at the end of

these notes; those whose principal place of

business is situated or proposed to be situated in

Scotland to the Edinburgh Office; and those whose

principal place of business is situated or proposed to be

situated in Northern Ireland to the Belfast Office.

The information to be supplied on the form should

contain the following -

*

the firm's name

2.

*

*

the general nature of the business

the address of the principal place of business

*the full name of each partner, listing general and

limited partners separately

*

*

*

*

the term if any for which the partnership is entered into

the date of its commencement

a statement that the partnership is limited and

the description of every partner as such

the sum contributed by each limited partner, and whether it is paid in cash or otherwise

If all these particulars are in order, a certificate of

registration will be issued by the Registrar, subject to

the acceptability of the name.

HOW MUCH DOES IT COST?

A registration fee of £2 is payable with the application

form. Cheques and postal orders should be made

payable to Companies House.

CAN AN OVERSEA LIMITED PARTNERSHIP REGISTER?

Not normally. The 1907 Limited Partnership Act

requires partnerships to register in that part of the

United Kingdom where their principal place of business

is situated or is proposed to be situated. An oversea

partnership usually has its principal place of business.

overseas, and would be precluded from registering on

those grounds.

3.