(1) If the
Commissioner is satisfied that the registration of a limited partnership or
incorporated limited partnership should not have been cancelled under
section 31, 32 or 69, the Commissioner may, by notice given to the limited
partnership or incorporated limited partnership, reinstate the
partnership’s registration.
(2) The Commissioner
must, as soon as practicable after reinstating the registration of a limited
partnership or incorporated limited partnership under subsection (1), record
in the register —
(a) the
reinstatement; and
(b) the
day on which the reinstatement took effect, being the day on which the notice
was given to the limited partnership or incorporated limited partnership under
subsection (1).
(3) If the
registration of a limited partnership or incorporated limited partnership is
reinstated under this section the partnership is taken to have continued in
existence as if the partnership’s registration had not been cancelled.
(4) The regulations
may make provision of a savings or transitional nature consequent on the
reinstatement of the registration of a limited partnership or incorporated
limited partnership under this section.