CHINESE PARTNERSHIPS. IPS.
No. 53 of 1911.
1243
limited to such proportion of the debts and obligations of the [s. 5 contd.] registered partnership as his interest in the registered partnership bears to the total interest of all the partners therein, whether registered or unregistered.
firm
(4) Where a firm or family t'ong is registered as a partner Unregistered 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 respect 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 t'ong in the registered partnership bears to the total interest of all the partners therein whether registered or unregistered.
registered
(5) Where a firm or family t'ong is registered as a partner Registered in a registered partnership and is itself also registered as a firm registered partnership, the liability of each of its registered as partner partners or members shall be unlimited in respect of assets in his possession connected with the registered partnership in which liability of 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.
partners;
(6) Where a firm or family t'ong is registered as a partner and of in a registered partnership and is itself also registered as a unregistered partners. 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.
(7) No person registered only as a hung kú shareholder Registered shall be under any further liability for the debts and obligations hung kú 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
shareholder.
CHINESE PARTNERSHIPS. IPS.
No. 53 of 1911.
1243
limited to such proportion of the debts and obligations of the [s. 5 contd.] registered partnership as his interest in the registered partnership bears to the total interest of all the partners therein, whether registered or unregistered.
.
firm
(4) Where a firm. or family t'ong is registered as a partner Unregistered in a registered partnership, but is not itself registered as a
registered registered partnership, the liability of each of its partners or as partner members shall be unlimited in respect of assets in his possession
in registered partnership. 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 t'ong in the registered partnership bears' to the total interest of all the partners therein whether registered or unregistered.
registered
(5) Where a firm or family t'ong is registered as a partner Registered in a registered partnership and is itself also registered as a firm registered partnership, the liability of each of its registered as partner partners or members shall be unlimited in respect of assets in in registered partnership; his possession connected with the registered partnership in which liability of his firm or t'ong is a registered partner, but his further liability registered 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.
partners;
(6) Where a firm or family t'ong is registered as a partner and of in a registered partnership and is itself also registered as a unregistered
partners. 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 partner's therein whether registered or unregistered.
•
(7) No person registered only as a hung kú shareholder Registered shall be under any further liability for the debts and obligations hung kú 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
shareholder.
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