International Limited Partnership Order, 2000 · As enacted
8. Contribution of limited partner
Official textFrom Attorney General's Chambers, unchanged
Any contribution to be made by a limited partner to an international limited partnership may be in the form of money in any currency, any other property, or services.
contribution
"contribution" means cash, property or other assets which a partner contributes to the capital of an ILP jbut does not include any moneys lent by a partner to an ILP);
Where the contribution of the limited partner is made or undertaken to be made otherwise than in cash -
limited partner
"limited partner" means a person who has been admitted to an ILP as a limited partner and who has complied with section 6;
there shall forthwith be assigned to that contribution or part of that contribution or to that intended contribution or part of that intended contribution, in accordance with the partnership agreement, a value to be known as a statutory value; and
the statutory value shall, for the purposes of this Order, be accepted as the value of that contribution or that part of the contribution or of that intended contribution or that part of the intended contribution, as the case may be.
Where an ILP proposes to make an invitation to the public of a partnership interest or other interest, sections 21 to 35 inclusive of the
ILP
"ILP" means an international limited partnership, within the meaning of section 4;
International Business Companies Order, 2000, and the relevant Regulations made under that Order shall apply mutatis mutandis, as shall any exemptions given pursuant to those sections.
General provisions as to ILPs.
Terms defined in s 2
contribution
Defined · s 2"contribution" means cash, property or other assets which a partner contributes to the capital of an ILP jbut does not include any moneys lent by a partner to an ILP);
ILP
Defined · s 2"ILP" means an international limited partnership, within the meaning of section 4;
limited partner
Defined · s 2"limited partner" means a person who has been admitted to an ILP as a limited partner and who has complied with section 6;
partnership agreement
Defined · s 2"partnership agreement" means a written agreement which is governed by the laws of Brunei Darussalam and which provides for the establishment of a partnership as an ILP and regulates the affairs of the partnership, the conduct of its business and the rights and obligations of the partners, and if such an agreement is amended at any time, the agreement as amended shall be the partnership agreement;