Investment Limited Partnerships (Amendment) Act 2020

Amendment of section 39 of Act of 1994

36. Section 39 of the Act of 1994 is amended by the substitution, for “any partner who is in default shall be guilty of an offence.” of the following:

“each of the following who is in default, namely—

(i) a general partner, and

(ii) any limited partner who, at the time of the contravention, purported to take part in the conduct of the business of the investment limited partnership,

shall be guilty of an offence (but this section does not apply in respect of a contravention to which section 13 applies).”.