Companies Act (Cap. 386), article 22

22. (1) Where the duration of a partnership is extended beyond the period, if any, in the deed of partnership, the sepa rate creditor of a partner may obj ect to such extension by sworn application filed within three months from the date of the publication of the statement in accordance with article 401(1)(e) relating to the instrument effecting such extension and, upon g ood cause being shown, the court shall direct the partnership to liquidate such partner’s interest in the partnership within three months of the judgment. (2) The provisions of sub-articl e (1) shall apply whether any extension of the period fixed for the duration of the partnersh ip is or is not expressly provided fo r in the deed of partnership. (3) A separate creditor of a partner may only object in pursuance of this article if his debt existed prior to the publ ication of the statement referre d to in sub- article (1). 24 CAP. 386.] COMP ANIES Duties of Registrar of Courts. Amended by: XXIV . 1995.362; L.N. 181 of 2006; L.N. 186 of 2006.