Western Australian Current Acts

LIMITED PARTNERSHIPS ACT 2016 - SECT 48

48 .         Evidence of status: after registration

        (1)         An incorporated limited partnership that was incorporated on the basis of an intention to apply for registration of the partnership as an AFOF, ESVCLP or VCLP must —

            (a)         if the incorporated limited partnership has, within the period of 2 years after its incorporation, been so registered — lodge with the Commissioner a copy of a document evidencing its status as an AFOF, ESVCLP or VCLP within 1 month after being so registered; or

            (b)         if the incorporated limited partnership has not, within the period of 2 years after its incorporation, been so registered — lodge with the Commissioner a notice of that fact as soon as practicable after the end of the 2 year period.

        (2)         An incorporated limited partnership that was incorporated on the basis of an intention to meet the requirements for recognition as a VCMP must —

            (a)         if the incorporated limited partnership has, within the period of 2 years after its incorporation, met the requirements for recognition as a VCMP — lodge with the Commissioner a document evidencing its status as a VCMP with 1 month after so meeting the requirements; or

            (b)         if the incorporated limited partnership has not, within the period of 2 years after its incorporation, met the requirements for recognition as a VCMP — lodge with the Commissioner a notice of that fact as soon as practicable after the end of the 2 year period.

        (3)         Subsection (4) applies if —

            (a)         the registration of an incorporated limited partnership as an AFOF, ESVCLP or VCLP is revoked; or

            (b)         an incorporated limited partnership ceases to be a VCMP.

        (4)         The incorporated limited partnership must, within 7 days after the day on which the revocation takes effect or it ceases to be a VCMP, lodge with the Commissioner a notice of that revocation or cessation specifying the day on which the revocation or cessation took effect.

        (5)         If subsection (1), (2) or (3) is not complied with, each general partner in the incorporated limited partnership commits an offence.

        Penalty for this subsection: a fine of $1 500.

        (6)         A notice required to be lodged with the Commissioner under this section must be —

            (a)         in the form approved by the Commissioner; and

            (b)         contain the particulars that are required by the form or prescribed.