Limited Liability Partnerships Act 2012 Second Schedule
Limited Liability Partnerships Act 2012 Second Schedule
Sections 55–67 were repealed by later amendments.
Second Schedule SECOND SCHEDULESupplementary
[Section 9]
DEFAULT PROVISIONS FOR LIMITED LIABILITY PARTNERSHIPS
1. The mutual rights and duties of the partners and the mutual rights and duties ofa limited liability partnership and its partners shall be determined, subject to the terms of any liability partnership agreement, by the provisions in this Schedule.
2. All partners of a limited partnership are entitled to share equally in the capital and profits of the limited liability partnership.
3. The limited liability partnership must indemnify each partner in respect of payments made and personal liabilities incurred by that partner―
(a) in the ordinary and proper conduct of the business of the limited liability partnership; and
(b) in or about anything necessarily done for the preservation of the business or property of the limited liability partnership.
4. Every partner may take part in the management of the limited liability partnership.
5. No partner shall be entitled to remuneration for acting in the business or management of the limited liability partnership.
6. No person may be introduced as a partner without the consent of all existing partners.
7. No person shall assign all or part of his or its interest in the limited liability partnership without the consent of all existing partners.
* NOTE—The Companies Act 1965 [Act 125] has been repealed by the Companies Act 2016 [Act 777] w.e.f 31 January 2017―see subsection 620(1) of Act 777.
8. Any matter or issue relating to the limited liability partnership shall be decided by resolution passed by a majority in number of partners, and for this purpose, each partner shall have one vote.
9. Each partner shall render true accounts and full information of all things affecting the limited liability partnership to any other partner or that other partner’s legal representatives.
10. If a partner, without the consent of the limited liability partnership, carries on any business of the same nature as and competing with the limited liability partnership, the partner must account for and pay over to the limited liability partnership all profits made by the partner in that business.
11. Every partner must account to the limited liability partnership for any benefit derived by that partner without consent of the limited liability partnership from any transaction concerning the limited liability partnership, or from any use by that partner of the property, name or any business connection of the limited liability partnership.
12. No majority of the partners can expel any partner unless a power to do so has been conferred by express agreement between the partners.
Malay text (authoritative)
JADUAL KEDUA
[Seksyen 9]
PERUNTUKAN YANG TERPAKAI BAGI PERKONGSIAN LIABILITI TERHAD
1. Hak dan kewajipan bersama pekongsi-pekongsi dan hak dan kewajipan bersama sesuatu perkongsian liabiliti terhad dan pekongsi-pekongsinya hendaklah ditentukan, tertakluk pada terma mana-mana perjanjian perkongsian liabiliti terhad, olehperuntukan dalam Jadual ini.
2. Semua pekongsi sesuatu perkongsian liabiliti terhad berhak untuk berkongsi dengan sama rata modal dan keuntungan perkongsian liabiliti terhad itu.
3. Perkongsian liabiliti terhad itu mestilah menanggung rugi setiap pekongsi berkenaan dengan pembayaran yang dibuat dan liabiliti peribadi yang ditanggung oleh pekongsi itu—
(a) dalam perjalanan biasa dan wajar perniagaan perkongsian liabiliti
* CATATAN—Akta Syarikat 1965 [Akta 125] telah dimansuhkan oleh Akta Syarikat 2016 [Akta 777] m.b.p. 31 Januari 2017―lihat subseksyen 620(1) Akta Syarikat 2016.
terhad itu;dan
(b) dalam atau tentang apa-apa jua yang dilakukan dengan perlu bagi pemeliharaan perniagaan atau harta perkongsian liabiliti terhad itu.
4. Tiap-tiap pekongsi boleh mengambil bahagian dalam pengurusan perkongsianliabiliti terhad itu.
5. Tiada pekongsi berhak kepada saraan kerana bertindak dalam perniagaan ataupengurusan perkongsian liabiliti terhad itu.
6. Tiada seorang pun boleh dimasukkan sebagai pekongsi tanpa persetujuankesemua pekongsi yang sedia ada.
7. Tiada seorang pun boleh menyerah hak kesemua atau sebahagian daripada kepentingannya dalam perkongsian liabiliti terhad itu tanpa persetujuan kesemua pekongsi yang sedia ada.
8. Apa-apa perkara atau isu yang berhubungan dengan perkongsian liabiliti terhad itu hendaklah diputuskan melalui ketetapan yang diluluskan oleh majoriti bilangan pekongsi, dan bagi maksud ini, setiap pekongsi hendaklah mempunyai satu undi.
9. Setiap pekongsi hendaklah memberikan penjelasan yang benar dan maklumat lengkap bagi semua perkara yang menyentuh perkongsian liabiliti terhad itu kepada mana-mana pekongsi lain atau wakil di sisi undang-undang pekongsi lain itu.
10. Jika seseorang pekongsi, tanpa persetujuan perkongsian liabiliti terhad itu,menjalankan apa-apa perniagaan yang sama jenis seperti dan bersaing dengan perkongsian liabiliti terhad itu, pekongsi itu mestilah menjelaskan dan membayar kepada perkongsian liabiliti terhad itu semua keuntungan yang dibuat oleh pekongsiitu dalam perniagaan itu.
11. Tiap-tiap pekongsi mestilah menjelaskan kepada perkongsian liabiliti terhad itu bagi apa-apa faedah yang diperoleh oleh pekongsi itu tanpa persetujuan perkongsian liabiliti terhad itu daripada apa-apa transaksi yang berkenaan dengan perkongsian liabiliti terhad itu, atau daripada apa-apa kegunaan oleh pekongsi itu daripada harta, nama atau apa-apa hubungan perniagaan perkongsian liabiliti terhad itu.
12. Tiada majoriti pekongsi boleh memecat mana-mana pekongsi melainkan jika kuasa untuk berbuat demikian telah diberikan oleh perjanjian secara nyata antara pekongsi-pekongsi.
Text as at 1 August 2022 (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).
