2064
No. 53 of 1911.
Registered firm registered as partner in registered partnership; liability of registered partners; and of partners.
CHINESE PARTNERSHIPS.
such proportion of the debts and obligations of the registered partnership as the interest of his firm or t'ong in the registered partnership bears to the total interest of all the partners therein whether registered or unregistered.
(5) Where a firm or family t'ong is registered as a partner in a registered partnership and is itself also registered as a registered partnership the liability of each of its registered partners or members shall be unlimited in respect of assets in his possession connected with the registered partnership in which his firm or t'ong is a registered partner, but his further liability shall be limited to such proportion of what would have been his total liability if his firm or t'ong had not itself been a registered partnership as his interest in his own firm or t'ong bears to the total interest of all the partners therein, whether registered or unregistered.
(6) Where a firm or family t'ong is registered as a partner in an unregistered registered partnership and is itself also registered as a registered partnership the liability of each of its unregistered partners or members shall be unlimited in respect of assets in his possession connected with the registered partnership in which the firm or t'ong is a registered partner; 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 t'ong in the registered partnership bears to the total interest of all the partners therein whether registered or unregistered.
Registered hung kú shareholder.
(7) No person registered only as a hung kú shareholder 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).
(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 t'ong which is registered as a partner other than the registered representative 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 t'ong 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 t'ong other than the registered representative thereof takes part in the management of the business
2064
No. 53 of 1911.
Registered
firm register-
ed as partner in registered
partnership; liability of registered partners;
and of
partners.
CHINESE PARTNERSHIPS.
such proportion of the debts and obligations of the registered partnership as the interest of his firm or t'ong in the registered partnership bears to the total interest of all the partners therein whether registered or unregistered.
(5) Where a firm or family t'ong is registered as a partner in a registered partnership and is itself also registered as a registered partnership the liability of each of its registered partners or members shall be unlimited in respect of assets in his possession connected with the registered partnership in which his firm or t'ong is a re- gistered partner, but his further liability shall be limited to such proportion of what would have been his total liability if his firm or t'ong had not itself been a registered partnership as his interest in his own firm or t'ong bears to the total interest of all the partners therein, whether registered or unregistered.
(6) Where a firm or family t'ong is registered as a partner in a unregistered registered partnership and is itself also registered as a registered partnership the liability of each of its unregistered partners or members shall be unlimited in respect of assets in his possession connected with the registered partnership in which the firm or t'ong is a registered partner; 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 t'ong in the registered partnership bears to the total interest of all the partners therein whether registered or unregistered.
Registered hung kú
shareholder.
(7) No person registered only as a hung kú shareholder 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).
(8) The burden of proving that assets in his possession are uncon- nected 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 t'ong which is registered as a partner other than the registered representative thereof shall take part in the management of the business of the registered partner- ship or shall have power to bind the registered partnership.
Provided that any member of such a firm or t'ong 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 t'ong other than the registered representative thereof takes part in the management of the business
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