Labuan Limited Partnerships and Limited Liability Partnerships Act 2010 s 46
s 46 Liabilities and obligations of partner before conversion
(1) Notwithstanding sections 38 to 44, every partner of a Labuan limited partnership that has converted to a Labuan limited liability partnership shall continue to be personally liable (jointly and severally with the Labuan limited liability partnership) for the liabilities and obligations of the Labuan limited partnership which were incurred prior to the conversion or which arose from any contract entered into prior to the conversion.
(2) If any such partner discharges any liability or obligation referred to in subsection (1), that partner shall be entitled, subject to any agreement with the Labuan limited liability partnership to the contrary, to be fully indemnified by the Labuan limited liability partnership in respect of such liability or obligation.
Malay text (authoritative)
Liabiliti dan obligasi pekongsi sebelum penukaran
(1) Walau apa pun seksyen 38 hingga 44, tiap-tiap pekongsi perkongsian terhad Labuan yang telah bertukar kepada suatu perkongsian liabiliti terhad Labuan hendaklah terus menerus bertanggungan sendiri (bersesama dan berasingan dengan perkongsian liabiliti terhad Labuan) bagi liabiliti dan obligasi perkongsian terhad Labuan yang dilakukan sebelum penukaran itu atau yang berbangkit daripada mana-mana kontrak yang dibuat sebelum penukaran itu.
(2) Jika mana-mana pekongsi menunaikan apa-apa liabiliti atau obligasi yang disebut dalam subseksyen (1), pekongsi itu adalah berhak, tertakluk pada apa-apa perjanjian dengan perkongsian liabiliti terhad Labuan yang berlawanan, untuk ditanggung rugi sepenuhnya oleh perkongsian liabiliti terhad Labuan itu berkenaan dengan liabiliti atau obligasi itu.
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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).
