1912_LIMITED_PARTNERSHIPS_ORDINANCE__1912 — Page 4

LIMITED PARTNERSHIPS.

No. 18 of 1912.

2249

8.—(1) If during the continuance of a limited partnership any Registration

change is made or occurs in

(a) the firm name,

(b) the general nature of the business,

(c) the principal place of business,

of changes in partnerships. 7 Ed. 7 c. 24

s. 9.

*

(d) the partners or the name of any partner,

(e) the term or character of the partnership,

(f) the sum contributed by any limited partner,

(g) the liability of any partner by reason of his becoming a limited instead of a general partner or a general instead of a limited partner,

a statement, signed by the firm, specifying the nature of the change shall within 7 days be sent by post or delivered to the Registrar of Companies.

(2) If default is made in compliance with the requirements of this section each of the general partners shall, on summary con- viction, be liable to a fine not exceeding 10 dollars for each day during which the default continues.

ment in Gazette of

statement of

er

9. Notice of any arrangement or transaction under which any Advertise- person will cease to be a general partner in any firm, and will become a limited partner in that firm, or under which the share of a limited partner in a firm will be assigned to any person, shall be forthwith advertised in the Gazette, and until notice of the arrangement or transaction is so advertised the arrangement or transaction shall, for the purposes of this Ordinance, be deemed be of no effect.

to

general part- ner becoming a limited partner and

of assign- ment of share

of limited partner. ib. s. 10.

on contri-

partners.

10. The statement of the amount contributed by a limited partner, Ad valorem. and a statement of any increase in that amount, sent to the Re- stamp duty gistrar for registration under this Ordinance, shall be charged with butions an ad valorem stamp duty of $2.50 for every $1,000 and any frac- by limited tion of $1,000 over any multiple of $1,000, of the amount so ib. s. 11. contributed, or of the increase of that amount, as the case may be; and, in default of payment of stamp duty thereon as herein required, the duty with interest thereon at the rate of 8 per cent. per annum from the date of delivery of such statement shall be a joint and several debt to His Majesty, recoverable from the partners, or any of them, in the said statements named, or in the case of an in-

*As amended by No. 21 of 1912.