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Limited Partnerships Act 2008

General - Registrar's powers to identify controllers of limited partnership

78G: Registrar may require disclosure about controllers or delegates of general partners

You could also call this:

"The Registrar can ask for information about who's in charge of a limited partnership"

Illustration for Limited Partnerships Act 2008

The Registrar can ask you to give them information about the people in charge of a limited partnership. This is so they can understand who is really in control of the partnership, as stated in section 78A. You have to give the Registrar the information they ask for.

If the Registrar asks you for information, you must give it to them in the way they specify, as outlined in section 78H. If you do not give the Registrar the information they ask for, you can get a fine of up to $10,000. The Registrar wants to know about things like directions or instructions given to the people managing the partnership.

The Registrar also wants to know about any powers that have been delegated to other people. They want to know who is giving instructions and who is receiving them. You are a specified person if you are a general partner of the limited partnership or if you have been named in a previous disclosure.

Control information means things like directions or instructions about managing the partnership. A specified person is someone like a general partner or someone who has been named before. The Registrar is trying to understand who is in charge of the limited partnership and how they make decisions.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6251671.

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78F: Registrar may require persons to disclose control interests and powers to get control interests, or

"Telling the Registrar who's in charge of a limited partnership"

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78H: Registrar may specify deadlines, form, and verification for information required under section 78F or 78G, or

"Registrar sets rules for giving information, like deadlines and proof"

Part 2General
Registrar's powers to identify controllers of limited partnership

78GRegistrar may require disclosure about controllers or delegates of general partners

  1. The Registrar (or a person authorised by the Registrar) may, by notice given after having regard to the purpose in section 78A, require a specified person to disclose control information in relation to a limited partnership.

  2. However, control information that is directions or instructions given to any other person need only be disclosed to the extent to which they are known to the specified person.

  3. A specified person must disclose the information required under subsection (1) in accordance with any specifications under section 78H.

  4. If a specified person fails to comply with subsection (3), he or she commits an offence and is liable on conviction to a fine not exceeding $10,000.

  5. For the purposes of this section,—

    control information, in relation to the limited partnership to which the requirement under subsection (1) relates, means—

    1. any directions or instructions relating to the management and administration of the limited partnership given to a specified person (A) (or any other person who is responsible for the management and administration of the limited partnership) by another person (B); or
      1. any delegation of powers relating to the management and administration of the limited partnership by a specified person to another person

        director means,—

        1. in relation to a company, any person occupying the position of a director of the company by whatever name called:
          1. in relation to a partnership (other than a limited partnership), any partner:
            1. in relation to a limited partnership, any general partner:
              1. in relation to a body corporate or unincorporate other than a company, partnership, or limited partnership, any person occupying a position in the body that is comparable with that of a director of a company

                specified person, in relation to the limited partnership to which the requirement under subsection (1) relates, means—

                1. a general partner of the limited partnership:
                  1. a person named in a previous disclosure under subsection (3) concerning that limited partnership.

                  Notes
                  • Section 78G: inserted, on , by section 25 of the Limited Partnerships Amendment Act 2014 (2014 No 47).