	Shirley Trust Company Limited

[Home] [Services] [Resources] [Staff] [Contact] [ Search Contents]

Up
PART IV - Partnership Act (1996)
PART V - Partnership Act (1996)
PART VI - Partnership Act (1996)
PART VII & Schedules - Partnership Act (1996)

VIRGIN ISLANDS

The Partnership Act, 1996

Part VII -Miscellaneous

109. Declaration by the Court.
110. Application of Part VIII of Cap. 291.
111. Judge in Chambers.
112. Time for prosecution.
113. General penalty.
114. Repeals.

PART VII - Miscellaneous.

Declaration by the court	109.(1) A general partner of a limited partnership formed under this Act may, without the necessity of joining any other party, apply to the Court, by summons supported by any affidavit, for a declaration on any question of interpretation of this Act or of the memorandum or the articles of a limited partnership. (2) A person acting in accordance with a declaration made by the court as a result of an application under subsection (1) shall be deemed, in so far as regards the discharge of any fiduciary or professional duty, to have properly discharged his duties in the subject matter of the application.
Application of Part VIII of Cap. 291	110. Part VIII of the International Business Companies Act applies, mutatis mutandis, to this Act.
Judge in Chambers	111. A judge of the High Court may exercise in Chambers any jurisdiction that is vested in the court by this Act and in exercise of that jurisdiction, may award such costs as may be just.
Time for prosecution	112. A prosecution for an offence under this Act or any Regulations made thereunder may be commenced within five years from the date of the commission of the offence but not thereafter.
General penalty	113. Any person who contravenes any provision of this Act or any Regulation made thereunder commits an offence, and, unless otherwise provided in the Act or the Regulations, is liable on summary conviction to a fine of $5,000.00.
Repeals	114.(1) The Partnership Act, 1888 is repealed. (2) Section 3 of the Companies Act is repealed.

[Back to Top]

(Section 87)

PART I - Licence Fees

(a) A limited partnership the name of which is on the Register on the 31st December in a year shall, before 30th April of the following year, pay to the Registrar an annual licence fee of $500.

(b) If a limited partnership fails to pay the annual licence fee under paragraph (a) by the date specified therein, the licence fee increases by 10 percent of that amount.

(c) If a limited partnership fails to pay the amount due as an increased licence fee under paragraph (b) by 31st July, then the licence fee increases by 25 percent of the licence fee specified in paragraph (a).

(d) If a limited partnership fails to pay the amount due as an increased licence fee under paragraph (c) by 31st October, then the licence fee increases by 50 percent of the licence fee specified in paragraph (a).

PART II

(Section 89(1))

There shall be paid to the Registrar fees as follows:

(a) $500 for the registration of the memorandum of a limited partnership;

(b) for the registration of an amendment to the memorandum of a limited partnership,

(i) $25 if the registration is within 30 days immediately following the amendment of the Articles;

(ii) $50 if the registration is within 60 days immediately following the amendment of the Articles;

(iii) $75 if the registration is within 90 days immediately following the amendment of the Articles; and

(iv) $100 if the registration is later than 90 days following the amendment of the Articles;

(c) $25 for the issue of a certificate of limited partnership or good standing, other than at the time of the registration of a limited partnership;

(d) $25 for the issue of a copy or extract of a document or a part of a document;

(e) $10 for the inspection of the documents kept by the Registrar pursuant to this Act;

(f) $25 for the reservation of a name as provided for in section 60;

(g) $10 for an inspection of each entry in the Register of Limited Partnerships;

(h) $25 to conduct a search of a file kept by the Registrar; and

(i) $15 for any other service provided by the Registrar for which no fee is prescribed.

[Back to Top] - [Index] - [Part IV] - [Part V] - [Part VI]

[Home] [Services] [Resources] [Staff] [Contact] [Contents]

For more information about our legal services, please send an email to info@shirleylaw.com

For questions or comments about our website, send an email to webmaster@shirleylaw.com

updated 14-Jan-2007