Entire Act

SCHEDULE 1: FINE LIMITS

Note: See rule 5.4.


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

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