Section 28Part 5 — Miscellaneous
Winding up
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Subject to subsection
and section 27 —
in the event of the voluntary winding up of a limited liability partnership in the circumstances described in section 24 , the limited liability partnership ’ s affairs shall be wound up by the person who, at the time of the commencement of the winding up, was the last remaining partner or, if the partner is deceased or liquidated or otherwise ceases to exist, the partner ’ s personal representatives, liquidator or other legal representative and such person shall act as voluntary liquidator; and
in the event of the voluntary winding up of a limited liability partnership in any other circumstances, the limited liability partnership ’ s affairs shall be wound up by a person acting as liquidator appointed by a majority of partners or otherwise as provided in the partnership agreeme nt or, if none, the managing partner, or if more than one, all of the managing partners. ( 2 ) After the commencement of the winding up of a limited liability partnership, the limited liability partnership shall cease to carry on business except so far as ma y be beneficial for the limited liability partnership ’ s winding up by the limited liability partnership ’ s liquidator.