s.2Interpretation
2
Section 2Part 8 — REP EALED 51 -

Interpretation

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In this Act — “ annual return ” shall be construed in accordance with section 20 ; “ Cayman Islands exempted limited partnership ” means an exempted limited partnership register ed in accordance with section 9 of the Exempted Limited Partnership Act (2021 Revision) ; “ Cayman Islands Stock Exchange ” means the Cayman Islands Stock Exchange Company incorporated under section 4 of the Stock Exchange Company Act (2014 Revision) ; “ Court ” means the Grand Court; “ debt ” includes obligation; “ dual foreign name ” means an additional name in any language not utilising the Roman alphabet, utilising any letters, characters, script, accents and other diacritical marks, and which does not have to be a translation or transliteration of the name in the Roman alphabet; “ general partnership ” means a partnership as defined by the Partnership Act (2024 Revision) excluding a limited partnership established under Part 6 of that Act ; “ limited liability partnership property ” has the meaning given to these words in section 5(1); “ loss ” includes damage, costs, charges, expenses and injury; “ managing partner ” shall be construed in accordance with section 4(12); “ mortgage ” means a legal mortgage by way of ass ignment and an equitable mortgage, charge or other form of security interest; “ partner ” means, in relation to a limited liability partnership, any person who is a partner in that limited liability partnership and named as such in the register of partners m aintained pursuant to section 9(3)(a) and every person who is admitted as a partner in accordance with section 14 and whose name is entered on the register of partners pursuant to section 9(4) will be considered to be a partner from the date of the partner ’ s admission; “ partnership agreement ” means any agreement of the partners as to the affairs of a limi ted liability partnership and the rights and obligations of the partners among the partners; “ partnership interest ” means the interest of a partner in a limited liability partnership in respect of profit, capital and voting or other rights, benefits or obl igations to which the partner is entitled or subject pursuant to the partnership agreement or this Act ; “ permitted electronic means ” means such electronic means, if any, and related procedures as the Registrar may permit from time to time to be used to fil e and deliver any particular documents pursuant to this Act ; “ property ” means land, money, goods, things in action, goodwill, and every valuable thing, whether movable or immovable, and whether situated in the Islands or elsewhere, and also means obligatio ns and every description of estate, interest, and profit, present or future, vested or contingent, arising out of or incident to property; “ register ” means the register maintained pursuant to section 44
; “ Registrar ” shall be construed in accordance with section 44(1); “ retirement ” means any act or occurrence whereby a person ceases to be a partner in a limited liability partnership, other than by the person ’ s death or otherwise ceasing to exist; “ registration statement ” means a statement delivered to the Registrar pursuant to section 18 together with any statement delivered to the Registrar pursuant to sections 19 or 27(2) specifying a change in the information stated in the registration statement; c Revised a s at 1st January, 2025 Page 11 “ re gulatory laws ” has the same meaning as in section 2 of the Monetary Authority Act (2020 Revision) ; “ special economic zone business ” means business authoris ed to be carried on in a special economic zone pursuant to any Law in force in the Islands. ( 2 ) For t he purposes of this Act , any reference to a loan includes any payment of interest on the loan which has fallen due.
In this Act , where a limited liability partnership has more than one managing partner, anything that the managing partner is required by this Act to do, may be done by any one of the managing partners.
Where more than one person is responsible for winding up the affairs of a limited liability partnership, subsection (3) shall have effect in relation to the persons responsible for winding up the affairs of the limited liability partnership as subsection (3) has effect in relation to managing partners.
In this A ct , any reference to the person responsible for winding up the affairs of a limited liability partnership shall be construed as a reference to the person so responsible by virtue of section 28(1) or (2) or 40(5) acting as liquidator.

Cross References

  • Section 9 of Exempted Limited Partnership Act

    Reference to Exempted Limited Partnership Act

  • Section 4 of Stock Exchange Company Actexternal

    Reference to Stock Exchange Company Act

  • Section 2 of Monetary Authority Actexternal

    Reference to Monetary Authority Act

Referenced By