Labuan Limited Partnerships and Limited Liability Partnerships Act 2010 s 28
s 28 Settling accounts on dissolution
Where accounts are settled after the dissolution of a Labuan limited partnership, the liabilities of the partnership to creditors shall be paid first, and then tax liabilities due to the Government, and then, subject to the partnership agreement or to a subsequent agreement, the other liabilities of the partnership shall be paid in the following order:
(a) to general partners other than for capital and profits;
(b) to limited partners in respect of the capital of their contributions;
(c) to limited partners in respect of their share of the profits;
(d) to general partners in respect of their contributions; and
(e) to general partners in respect of their share of profits.
Malay text (authoritative)
Penyelesaian akaun apabila dibubarkan
Jika akaun telah diselesaikan selepas pembubaran sesuatu perkongsian terhad Labuan, liabiliti perkongsian itu terhadap pemiutang hendaklah dibayar dahulu, dan kemudiannya liabiliti cukai yang kena dibayar kepada Kerajaan, dan kemudiannya, tertakluk pada perjanjian perkongsian atau perjanjian yang berikutnya, liabiliti lain perkongsian itu hendaklah dibayar mengikut susunan yang berikut:
(a) kepada pekongsi am selain untuk modal dan keuntungan;
(b) kepada pekongsi terhad berkenaan dengan modal sumbangan mereka;
(c) kepada pekongsi terhad berkenaan dengan bahagian keuntungan mereka;
(d) kepada pekongsi am berkenaan dengan sumbangan mereka; dan
(e) kepada pekongsi am berkenaan dengan bahagian keuntungan mereka.
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Find Act 707 on lom.agc.gov.my ↗
Text as at 1 July 2023 (LOM reprint); amendments made after that date may not be incorporated.
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).
