Section 5Part 2 — Nature of a Limited Liability Partnership
Limited liability partnership property
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The property of a limited liability partnership consists of all property —
contributed to the limited liability partnership; or
created or acquired by or acquired on account of the limited liability partnership either in the course of the limited liability partnership business o r with money of the limited liability partnership; and
which has not been paid or otherwise distributed to a partner.
Limited liability partnership property — c Revised a s at 1st January, 2025 Page 13
shall be vested in the limited liability partnership or held by any person on behalf of the limited liability partnership; and
subject to the partnership agreement, and except as provided in section 29(4), shall continue to be so vested or held notwithstanding any change in the persons who are partners in the limited liability partnership for the time being.