About the project
The Singapore Academy of Law’s Law Reform Committee invited Andrew Phang and Lee Eng Beng to prepare for its consideration a discussion paper on whether it would be appropriate to adopt an additional form of business entity that confers limited liability, namely, the limited liability partnership (‘LLP’). At the time, the only entity that catered for limited liability was the company. A limited liability partnership provides the flexibility of a partnership (thus allowing the owners or members to adopt whatever form of internal organization they prefer), while limiting the owners’ liability with respect to the LLP to their respective stakes in the LLP itself.
The authors of the paper provisionally recommended that the legislature seriously consider introducing the LLP. On its part, the Law Reform Committee decided to defer any recommendation for adoption of the LLP.
Project status: Completed
- The discussion paper was published in July 2000.
- Parliament decided to introduce limited liability partnerships by passing the Limited Liability Partnerships Act 2005 (No 5 of 2005; now Chapter 163A, 2006 Revised Edition) on 25 January 2005; the Act came into force on 11 April 2005.
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Areas of law
◾ Company and partnership law
Click on the image above to view the paper
Last updated 12 June 2019