Limited Liability Partnership Makes Roads for Venturing Investment

Source： LIAONING BANDCN LAW FIRM  [url]www.bandcn.com.cn[/url]  written by : Liu Jun
|v VO?(ts One of the vital innovations of new Partnership Business Law of the People??s 1kWnpg?

bJa^9z} Republic of China is to append limited liability system.
dbQj*mNd0Z)E
`MSQ#D\!BiT]\
v d4{b;w"IJ7T
Ov G xL6t The article 2 of new Partnership Business Law provides: limited partnership
%`)j9O"H |M;fb Xkk{BOc5f8|
enterprise is made up of general partners and limited partners, of which general udJ#{s v`t

\.C_4G2I
j partners are unlimited, joint and severally liable for the debts of the partnership, 5e6L}D%OL

1?&X3_i^`3x+U and limited partners are liable for limited liability in the limit of their investment.hE2QV6d5mL
p.l&PqC:K:c
In order to adapt the demand of developing venturing investment, limited T1b/I(ZNaEv

cH6gK`od partnership is able to combine special management organization or personal
q/i;U%s
v7G6s)S \
C3K9q'|LB9f%T#a management wisdom, which is of excellent investment mind, to surplus fund
&{ZU+]&?)J B%m*f3W3R
_nF7pW e"f6Q:A under the new Partnership Business Law.e)sb
x7C~

&U'?3~??n\
ik"zA6n2i x &?Q"z NgP
Furthermore, revenue provision of the new Partnership Business Law makes
u7~X#o5Q$Zb $K"ogs!k9|
for the development of venturing investment too. Article 6 provide that partners
1\;uF J P ]f{4f^h
'qy\Qq severally pay themselves income tax for the income of business or other income -O2zWwq``

W1H;u%v!\ according to related laws and regulations.1p&A,m4Fr:G1`

2Cn,E$}F\qV0Y
u1E^2g z3AURx

l Q5YE3rJ0b On the other hand, the new Partnership Business Law restricts the number of
f| b&R:@9@w*}3J &[0m\B#[Xlm
partners to fifty, but over two, so as to avoid limited partnership being the tool (J7]ROWj

/|2AM j0Hj@b of illegal collection fund.