Partnership Regulation 2015

This regulation may be cited as the Partnership Regulation 2015.

The fees payable under the Act in relation to a limited partnership are stated in schedule 1, part 1.

The fees payable under the Act in relation to an incorporated limited partnership are stated in schedule 1, part 2.

This section applies for working out the amount of a fee expressed in this regulation as a number of fee units.

For the purpose of the Acts Interpretation Act 1954, section 48C(3), the amount is to be rounded—

if the result is not more than $100—to the nearest multiple of 5 cents (rounding one-half upwards); or

if the result is more than $100 but not more than $1,000—to the nearest multiple of 10 cents (rounding one-half upwards); or

if the result is more than $1,000 but not more than $5,000—to the nearest dollar (rounding one-half upwards).

Example—

If a fee were 35 fee units and the value of a fee unit were $1.015, the number of dollars obtained by multiplying 35 by $1.015 would be $35.525. Because $35.525 is halfway between $35.50 and $35.55, it is rounded upwards, so the amount of the fee would be $35.55.

The Partnership Regulation 2004, SL No. 251 is repealed.