Section 81: Regulations

81. Regulations (1) The Minister may make such regulations as he thinks fit for the purposes of this Act. (2) Regulations made under subsection (1) may provide— (a) for the taking of fees and levying of charges; (b) for the merger and consolidation of one or more limited partnerships with or into one or more other bodies corporate or unincorporated bodies and the rights and obligations of persons when a merger or consolidation is made; (c) for the establishment of one or more designated classes of limited partners, general partners, partnership interests or assets and any such classes to have separate rights, powers or duties with respect to specified property or obligations of the limited partnership or profits and losses associated with specified property or obligations, and any such classes to have a separate business purpose or investment objective; (d) for the conversion of a limited partnership into another structure, whether corporate or unincorporated or of another structure into a limited partnership; (e) that any person who contravenes them shall commit an offence and shall, on conviction, be liable to a fine not exceeding 100,000 rupees and to imprisonment for a term not exceeding one year. 82. – 83. — [Issue 7] L15A – 48