No notice of dissolution or cessation
29 No notice of dissolution or cessation
Subsection (2) applies if —
section 28(1) is not complied with; and
the Commissioner is satisfied that a limited partnership has dissolved or ceased to be a limited partnership.
The Commissioner may give the limited partnership a notice informing the limited partnership that, if it does not satisfy the Commissioner, within 28 days after the day on which the notice is given, that the limited partnership has not dissolved or ceased to be a limited partnership, the dissolution or cessation of the limited partnership will be recorded in the register.
The Commissioner must, as soon as practicable after giving a notice to a limited partnership under subsection (2), record the giving of the notice in the register.
If, after the expiry of 28 days after the day on which a notice is given to a limited partnership under subsection (2), the Commissioner is still satisfied that the limited partnership has dissolved or ceased to be a limited partnership, the Commissioner may record in the register —
the dissolution or cessation; and
the day on which the dissolution or cessation took effect, being the day on which the record is made.
If, at any time within 28 days after the day on which a notice is given to a limited partnership under subsection (2), the Commissioner becomes satisfied that the limited partnership has not dissolved or ceased to be a limited partnership, the Commissioner must —
record that fact in the register; and
give the limited partnership notice of that fact.
This Act’s bill:Explanatory memorandumSecond reading speech
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