Where any person or persons carry on business under any name or title of which the words “Limited Partnership” or “LP” or any contraction or imitation thereof is or are the last word or words, that person or each of those persons shall, unless duly registered as limited partnership, be liable to a penalty in such amount as the Commission shall specify in its regulations.
Companies and Allied Matters Act 2020 · Part D
Section 804 Penalty for improper use of words “limited partnership” or “LP”
Cite as: Companies and Allied Matters Act 2020, section 804
What this section means
From the Part overview: CAMA 2020 Part D: limited partnerships (sections 795 to 810)
- Carrying on business under a name ending in limited partnership or LP without being registered as one attracts a penalty set by the Commission (section 804).
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.