Section 764 CAMA 2020

Section 764 Companies and Allied Matters Act is about Registration of change in particulars of partners. It is under Chapter 3 (Partners and their relations) of the Act.

(1) Every partner shall inform the limited liability partnership of any change in his name or address within 15 days of the change.

(2) A limited liability partnership shall—

(a) where a person becomes or ceases to be a partner, file a notice with the Commission within 30 days from the date he becomes or ceases to be a partner ; and

(3) A notice filed with the Commission under subsection (2)—

(a) shall be in such form and accompanied by such fees as may be prescribed ;

(b) shall be signed by the designated partner of the limited liability partnership ; and

(c) if it relates to an incoming partner, shall contain a statement by the partner that he consents to becoming a partner and signed by him.

(4) Where default is made by any limited liability partnership in complying with subsection (2), the limited liability partnership and every designated partner of the limited liability partnership shall each be liable to a penalty for each day the default continues in the amount as the Commission shall specify in its regulations.

(5) If any partner contravenes the provisions of subsection (1), the partner shall be liable to a penalty in such amount as the Commission shall specify inits regulations.

(6) A person who ceases to be a partner of a limited liability partnership may himself file with the Commission the notice referred to in subsection (3)if he has reasonable cause to believe that the limited liability partnership may not file the notice with the Commission and in case of any such notice filed by a partner, the Commission shall obtain a confirmation to this effect from the limited liability partnership unless the limited liability partnership has also filed such notice.

(7) Where no confirmation is given by the limited liability partnership within 15 days, the Commission shall register the notice made by a person ceasing to be a partner under this section.