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Companies and Allied Matters Act 2020 · Part C

Section 750Liabilities of designated partners

Unless expressly provided otherwise in this Act, a designated partner is—
(a)
responsible for the doing of all acts, matters and things as are required to be done by the limited liability partnership in respect of compliance of the provisions of this Act including filing of any document, return, statement and other report under this Act and as may be specified in the limited liability partnership agreement ; and
(b)
liable to all penalties imposed on the limited liability partnership for any contravention of those provisions.
Cite as: Companies and Allied Matters Act 2020, section 750

What this section means

From the Part overview: CAMA 2020 Part C: limited liability partnerships (sections 746 to 794)

  • Designated partners are responsible for the LLP’s compliance with the Act, including filings, and are liable for penalties on its contraventions (section 750).

Source: Companies and Allied Matters Act 2020 (Act No. 3 of 2020), Official Gazette No. 124, Lagos, 10 August 2020. General information, not legal advice.