Limited Liability Partnerships Order, 2010 · s 21

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s 21Conversion from firm to limited liability partnership

(1)

A firm may convert to a limited liability partnership by complying with the requirements set out in the Second Schedule.

(2)

Upon such conversion, the partners of the firm, the limited liability partnership to which the firm has converted and the partners of that lil)1ited liability partnership shall be bound by the provisions of the Second Schedule.

(3)

The Minister may, with the approval of His Majesty the Sultan and Yang

Di-Pertuan and by order published in the Gazette amend the Second Schedule.

(4)

In this section, "convert", in relation to a firm converting to a limited liability partnership, means a transfer of the property, assets, interests, rights, privileges, liabilities, obligations and the undertaking of the firm to the limited liability partnership in accordance with the Second Schedule.