Page:Limited Partnerships Act 2008.pdf/23

24 :(a) in the case where the offender is an individual, to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 2 years or to both; and
 * (b) in any other case, to a fine not exceeding $10,000.

(5) Any person who fails to comply with a requirement under subsection (3) shall be guilty of an offence and shall be liable on conviction—
 * (a) in the case where the offender is an individual, to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 2 years or to both; and
 * (b) in any other case, to a fine not exceeding $10,000.

Appointment and liability of local managers

28.—(1) Where every general partner of a limited partnership registered or to be registered under this Act is ordinarily resident outside Singapore, the Registrar may require a local manager to be appointed.

(2) The local manager shall be personally responsible for the discharge of all obligations attaching to the limited partnership under Parts III, IV and V, and in the case of any default in respect of any such obligation, the local manager shall be subject to the same responsibilities, liabilities and penalties as a general partner in the limited partnership and all the penal and other provisions of this Act shall be construed accordingly.

(3) The consent of the local manager to his appointment shall be lodged with the Registrar in such form and manner as the Registrar may require.

(4) Where a local manager appointed under subsection (1) ceases to hold office for any reason, a new local manager shall be appointed and the change shall be registered in accordance with section 18.

(5) Every general partner of a limited partnership who fails to comply with a requirement under subsection (4) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $1,000.

Restriction on undischarged bankrupt being manager

29.—(1) Any person who, being an undischarged bankrupt (whether he was adjudicated bankrupt by a Singapore court or a foreign court having jurisdiction in bankruptcy), directly or indirectly, takes part in or is concerned in the management of any limited partnership required to be