Goto Main Content
:::

Chapter Law Content

Title: Limited Partnership Act CH
Category: Ministry of Economic Affairs(經濟部)
Chapter V Penal Provisions
Article 39
A person who conduct business operations or any juristic act in the name of the limited partnership before completing the registration process will violate Article 10 Paragraph 1 of this Act and thereby shall be punished with imprisonment for a period of not more than one year, detention, or in lieu thereof or in addition thereto a fine of not more than NT$ 500,000 and shall assume on his own the civil liabilities arising therefrom. If there are two or more violators, they shall be jointly and severally liable therefore. In addition, the competent authority shall prohibit such violators from continuing to use the name of the limited partnership.
Article 40
Any responsible person of a limited partnership who evades, impedes or refuses an inspection conducted by the competent authorities under Article 31 Paragraph 1 of this Act shall be imposed with a fine of not less than NT$ 50,000 but not more than NT$ 250,000. For successive acts, the responsible person shall be imposed successively in each case.
Article 41
Any responsible person of a limited partnership shall be imposed with a fine of not less than NT$ 20,000 but not more than NT$ 100,000, if the limited partnership:
(1) fails to apply for registration by the deadline in accordance with the rule provided under Article 9 Paragraph 3 of this Act;
(2) fails to submit the annual business report, the financial statements and the proposal for earning distribution or loss off-setting to all partners for their approval in accordance with Article 27 Paragraph 1 of this Act;
(3) fails to have the annual financial statements audited and certified by a certified public accountant in accordance with Article 27 Paragraph 3 of this Act; or
(4) fails to make financial statements of past years available at the location of the limited partnership in accordance with Article 30 of this Act.
Article 42
Any responsible person of a limited partnership who evades, impedes or refuses an inspection conducted by any limited partner under Article 29 of this Act shall be imposed with a fine of not less than NT$ 20,000 but not more than NT$ 100,000. For successive acts, the responsible person shall be imposed successively in each case.