23114-1911-Supplementary-Bill-re-published--Chinese-Partnerships — Page 2

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(4.) Bodies corporate may be registered as partuers in a registered partnership.

5.—(1.) The liability of each partner in a registered Effect of partnership, which may sue and be sued in its registered registration on liability. name, shall be unlimited in respect of assets in his posses- sion connected with the registered partnership.

(2.) The liability of each registered partner in a registered partnership shall be nulimited.

(3.) The liability of each registered partner in a regis- tered partnership beyond his liability under sub-section (1) of this section, shall be limited to such proportion of the debts and obligations of the registered partnership as his interest in the registered partnership bears to the total interest of all the partners therein, whether registered or unregistered.

(4.) Where a firm or family fong is registered as a registered partner in a registered partnership, but is not itself registered as a registered partnership the liability of each of its partners or members shall be unlimited in res- pect of assets in his possession connected with the registered partnership, but his further liability shall be limited to such proportion of the debts and obligations of the registered partnership as the interest of his firm or tong in the re- gistered partnership hears to the total interest of all the partners therein whether registered or unregistered.

(5.) Where a firm or family long is registered as a re- gistered partner in a registered partnership and is itself also egistered as a registered partnership the liability of each of its registered partners or members shall be unlimited in res- 1 eer of assets in his possession connected with the registered partnership in which his firm or long is a registered part- her: but his further liability shall be Emited to such pro- portion of what would have been his total liability if his firm or tong had not itself been a registered partnership as his interest in his own firm or long hears to the total in- terest of all the partners therein, whether registered or un- registered.

(6.) Where a firm or family t'ong is registered as a re- gistered partner in a registered partnership and is itself also registered as a registered partnership the liability of each of its unregistered partners or members shall be un- limited in respect of assets in his possession connected with the registered partnership in which the firm or t'ong is a registered partner; Lut his further liability shall be limited to such proportion of the debts and obligations of the re- gistered partnership as the interest of his firm or tony in the registered partnership bears to the total interest of all the partners therein whether registered or unregistered.

(7.) No person registered only as a hung ku share- holder shall be under any further liability for the debts and obligations of the firm in which he is so registered than the liability imposed by sub-section (1) of this section.

(8.) The burden of proving that assets in his possession are unconnected with the registered partnership shall be on the person who seeks to have his liability limited under this section.

(9.) No member of a firm or family tong which is registered as a partner other than the registered repre- sentative thereof shall take part in the management of the business of the registered partnership or shall have power to bind the registered partnership.

Provided that any member of such a firm or tong may by himself or his agent at any time inspect the books of the firm and examine into the state and prospects of the partnership business.

If a member of such a firm or fong other than the registered representative thereof takes part in the manage- ment of the business of the registered partnership he shall he personally liable to an unlimited extent for all debts and obligations of the registered partnership incurred while he so takes part in the management thereof.

(10.) A firm or family tong registered as a partner in a registered partnership may be sued in its firm or tong name in respect of the debts and obligations of the registered partnership, and service on its registered representative shall be deemed sufficient service on the partners in the firm or the members of the rong.