LIMITED PARTNERSHIPS ACT, 2003

PART III

MISCELLANEOUS

19.(1) There shall be paid to the Registrar in respect of the matters specified in the Schedule the fees so specified.

(2) Notwithstanding any other written law, all fees due under this Act shall be paid in United States dollars.

20. The Minister may from time to time make regulations to give effect to the provisions of this Act and such regulations may -

(a) specify the duties to be performed by the Registrar;

(b) prescribe the forms to be used for the purposes of this Act; and

(c) amend the Schedule.21.(1) A limited partnership shall, on or before the 31 st day of January in every year after the year in which it is registered under this Act, file with the Registrar a return signed by or on behalf of a general partner certifying that the limited partnership has during the prior calendar year complied with the provisions of this Act and pay to the Registrar an annual fee of such amount as is specified in the Schedule.

(2) If default is made in complying with the requirements of subsection (1), the limited partnership shall be liable to a penalty of ten US dollars for each day that such default continues, and the penalty shall be a debt due to the Registrar.

22. Subject to any express or implied term of the partnership agreement to the contrary and to the duty imposed upon a general partner by section 4(3). a partner may lend money to, borrow from and transact other business with the limited partnership with or without interest or security as the limited partnership may determine and shall have the same rights and obligations with respect thereto as a person who is not a partner, provided that the obligations of the limited partnership to repay a debt to a general partner shall at all times be subordinated to the claims of other secured and unsecured creditors of the limited partnership.