SCHEDULE 1: FINE LIMITS
Note: See rule 5.4.
|
column 1 item |
column 2provision contravened |
column 3relevant section heading |
column 4 maximum fineUS$ |
|
1 |
section 9 |
Prohibition on unregistered general partnerships |
20,000 |
|
2 |
section 14 |
Notification of change in Registered Details of General or Recognised Partnership |
1,000 |
|
3 |
section 15(3) |
Power to refuse registration of change of name and require change of name |
1,000 |
|
4 |
section 16 Section 16-1 |
Registered office and conduct of business etc. of partnerships Limited Partnerships: registered email assress |
2,000 |
|
5 |
section 18 |
Particulars in partnership communications |
1,000 |
|
6 |
section 19 |
Accounting Records of General Partnership |
15,000 |
|
7 |
section 20 |
Accounts of General Partnership |
15,000 |
|
8 |
section 58 |
Compliance with orders etc. of Registrar of Companies to partnerships |
15,000 |
|
9 |
section 46-1 Section 47 |
Recognised Limited Partnerships: registered email address Recognised Limited Partnerships: notification of change in registered details |
2,000 |
|
10 |
section 60(2) |
Accounting Records of Recognised Partnership |
1,000 |
_
1.1. Table of fine limits
The following table sets the maximum fines that may be imposed for certain Contraventions of the AIFC Limited Partnership Regulations:
column 1 item |
column 2provision contravened |
column 3relevant section heading |
column 4 maximum fineUS$ |
1 |
section 9 |
Prohibitionon unregistered limited liabilitypartnerships |
20,000 |
2 |
section 13 |
Name of Limited Liability Partnership |
1,000 |
3 |
section 14(1), (6), (9) or (10) |
Change of Limited Liability Partnership’s name |
2,000 |
4 |
section 15(1) or (3) |
Limited Liability Partnerships: registered office and conduct of business |
2,000 |
5 |
section 16 |
Limited Liability Partnerships: particulars in communications |
2,000 |
6 |
section 26(2) or (6) |
Notification of membership changes |
2,000 |
7 |
section 28 |
AccountingRecordsofLimitedLiabilityPartnerships |
15,000 |
8 |
section 30 |
Accounts of Limited Liability Partnerships |
15,000 |
9 |
section 31(2) |
Appointment of Auditors |
10,000 |
10 |
section 32 |
Auditor’s report to members |
5,000 |
11 |
section 33(1) |
Auditors’ Functions |
5,000 |
12 |
section 33(6) |
Auditors’ Functions |
5,000 |
13 |
section 34 |
Resignation of Auditor etc. |
5,000 |
14 |
section 35 |
Cooperation with Auditors |
5,000 |
15 |
section 38 |
Notification of change in registered details of Recognised Limited Liability Partnership |
2,000 |
16 |
section 39 |
Recognised Limited Partnerships: particulars in communications |
2,000 |
17 |
section 40 |
Accounting Records of Recognised Limited Liability Partnership |
15,000 |
18 |
section 48 |
Compliance with orders etc. of Registrar to limited liability partnerships |
15,000 |
_