Clause 3 - Limited liability partnership to be body corporate - Limited Liability Partnership Bill, 2008

CHAPTER II NATURE OF LIMITED LIABILITY PARTNERSHIP Limited liability partnership to be body corporate. 3. (1) A limited liability partnership is a body corporate formed and incorporated under this Act and is a legal entity separate from that of its partners. (2) A limited liability partnership shall have perpetual succession (3) Any change in the partners of a limited liability partnership shall not affect the existence, rights or liabilities of the limited liability partnership.