s.31Strike off
31
Section 31Part 5 — Miscellaneous

Strike off

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The Registrar may strike a limited liability partnership off the register where —
the Registrar has reasonable cause to believe that a limited liability partnership is not carrying on business or is not in opera tion; or
where an administrative fine imposed by the Registrar on a limited liability partnership in accordance with section 26 of the Beneficial Ownership Transparency Act, 2023 [Act 13 of 2023] remains unpaid for ninety days after the imposition of the fine, and the limited liability partnership shall thereupon be dissolved.
A request on behalf of a limited liability partnership to strike the limited liability partnership off the register shall be accompanied by a fee of such amount as is prescri bed by regulations made by the Cabinet .
Where a limited liability partnership is being wound up, and the Registrar has reasonable cause to believe either that no liquidator is acting, or that the affairs of the limited liability partnership are fully w ound up, the Registrar may strike the limited liability partnership off the register and the limited liability partnership shall thereupon be dissolved without the need for a notice of dissolution to be filed pursuant to section 30 .
The Registrar shall immediately publish a Notice in the Gazette to the effect that the limited liability partnership in question has been struck off the register, the date on which the limited liability partnership has been struck off and the reason therefor.
If any partner of a limited liability partnership or creditor thereof objects to the limited liability partnersh ip having been struck off the register in accordance with this section, the Court on the application of such partner or creditor made within two years or such longer period not exceeding ten years as the Cabinet may allow of the date on which the limited l iability partnership was so struck off, may, if satisfied that the limited liability partnership was, at the time of the striking off thereof, carrying on business or in operation, or otherwise, that it is just that the limited liability partnership be res tored to the register, order the name of the limited liability partnership to be restored to the register, on payment by the relevant applicant of a re instatement fee equivalent to the original registration fee and on such terms and conditions as to the Court may seem just, and thereupon the limited liability partnership shall be deemed to have continued in existence as if the name of the limited liability partnership had not been struck off; and the Court may, by the same or any subsequent order, give su ch directions and make such provisions as seem just for placing the limited liability partnership and all other persons in the same position as nearly as may be as if the limited liability partnership had not been struck off.
The striking off the regis ter of any limited liability partnership under this Act shall not affect the liability, if any, of any partner of the limited liability partnership, and such liability shall continue and may be enforced as if the limited liability partnership had not been dissolved.
No liability shall attach for any act performed or thing done or omission by the Registrar under this section.
Any property that is held or considered to be held by a limited liability partnership that is struck off the register under th is section, and not otherwise restored to the register pursuant to subsection (5) shall thereupon vest in the Financial Secretary and shall be subject to disposition by the Cabinet, or to retention for the benefit of the Islands.

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