Limited Liability Partnerships Bill – Mauritius

Limited Liability Partnerships Bill

 

The Limited Liability Partnerships Bill which has been published in Government Gazette of Mauritius No. 103 of November 2016.

 

The Limited Liability Partnerships Bill has been introduced in the National Assembly with the aim of better positioning Mauritius as an international financial centre. The limited liability partnership is a vehicle which acts as a body corporate formed by registration and has a legal personality separate from that of its partners, whereby the partners have limited liability.

 

The Bill provides for the registration and administration of limited liability partnerships, where each partner:

 

• is only liable up to the amount he has contributed;

 

• is not liable for the actions of the other partners but is accountable for his own wrongful act or omission; and

 

• has a role in the decision-making process of the business and in distributions in accordance with the partnership agreement.

For more information regarding the Limited Liability Partnerships Bill, please contact us.

 

Source:  Government Gazette of Mauritius No. 103 of November 2016