'New kid on the block!!' Limited liability partnerships: the imminent business entity in Malaysia

A business entity is basically a business structure which is recognised by law as a valid medium of carrying on trade. The most common business entities are sole proprietorships, partnerships (firms) and companies. In Malaysia, these are the only three types of business structures available in the m...

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Main Author:	Abd Ghadas, Zuhairah Ariff
Format:	Article
Language:	English
Published:	LexisNexis Malaysia Sdn Bhd 2009
Subjects:	HF5001 Business. Business Administration K Law (General) KPG Malaysia
Online Access:	http://irep.iium.edu.my/7582/ http://irep.iium.edu.my/7582/1/2009-_New_kid_on_the_block%21_Limited_liability_partnerships-_the_imminent_business_entity_in_Malaysia.pdf

id	iium-7582
recordtype	eprints
spelling	iium-75822013-04-22T08:46:44Z http://irep.iium.edu.my/7582/ 'New kid on the block!!' Limited liability partnerships: the imminent business entity in Malaysia Abd Ghadas, Zuhairah Ariff HF5001 Business. Business Administration K Law (General) KPG Malaysia A business entity is basically a business structure which is recognised by law as a valid medium of carrying on trade. The most common business entities are sole proprietorships, partnerships (firms) and companies. In Malaysia, these are the only three types of business structures available in the market place. However, the business entities in other countries have expanded and developed to cater to business needs. One of the most recent types of business entities is the limited liability partnership ('LLP'). The LLP is a fascinating business structure as it could have the status of either a legal entity which is not a body corporate or one which is a body corporate. In the United Kingdom ('UK') for example, the off-shore LLPs, such as the Isle of Jersey LLP have the status of a legal entity which is not a body corporate whilst in the mainland; the UK LLPs have the status of a body corporate. In the South East Asian region, at present, LLPs are only available in Singapore. In Malaysia, there is a positive indication towards introducing LLPs in the near future as the Companies Comiision of Malaysia ('CCM')had published the consultation document on LLP Bill in April 2008. This paper intends to dicuss the features of the LLP as a new business entity and as the latest creation of a body corporate. Special reference is made to the Isle of Jersey LLPs and the UK LLPs to highlight the different types of LLP structures available, to the Singapore LLP Act 2005 and also to the CCM consultation document (April 2008) to underline the attributes of the LLPs which are proposed for Malaysia. LexisNexis Malaysia Sdn Bhd 2009 Article PeerReviewed application/pdf en http://irep.iium.edu.my/7582/1/2009-_New_kid_on_the_block%21_Limited_liability_partnerships-_the_imminent_business_entity_in_Malaysia.pdf Abd Ghadas, Zuhairah Ariff (2009) 'New kid on the block!!' Limited liability partnerships: the imminent business entity in Malaysia. Malayan Law Journal, 6. lix-lxxii. ISSN 0025-1283
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HF5001 Business. Business Administration K Law (General) KPG Malaysia
spellingShingle	HF5001 Business. Business Administration K Law (General) KPG Malaysia Abd Ghadas, Zuhairah Ariff 'New kid on the block!!' Limited liability partnerships: the imminent business entity in Malaysia
description	A business entity is basically a business structure which is recognised by law as a valid medium of carrying on trade. The most common business entities are sole proprietorships, partnerships (firms) and companies. In Malaysia, these are the only three types of business structures available in the market place. However, the business entities in other countries have expanded and developed to cater to business needs. One of the most recent types of business entities is the limited liability partnership ('LLP'). The LLP is a fascinating business structure as it could have the status of either a legal entity which is not a body corporate or one which is a body corporate. In the United Kingdom ('UK') for example, the off-shore LLPs, such as the Isle of Jersey LLP have the status of a legal entity which is not a body corporate whilst in the mainland; the UK LLPs have the status of a body corporate. In the South East Asian region, at present, LLPs are only available in Singapore. In Malaysia, there is a positive indication towards introducing LLPs in the near future as the Companies Comiision of Malaysia ('CCM')had published the consultation document on LLP Bill in April 2008. This paper intends to dicuss the features of the LLP as a new business entity and as the latest creation of a body corporate. Special reference is made to the Isle of Jersey LLPs and the UK LLPs to highlight the different types of LLP structures available, to the Singapore LLP Act 2005 and also to the CCM consultation document (April 2008) to underline the attributes of the LLPs which are proposed for Malaysia.
format	Article
author	Abd Ghadas, Zuhairah Ariff
author_facet	Abd Ghadas, Zuhairah Ariff
author_sort	Abd Ghadas, Zuhairah Ariff
title	'New kid on the block!!' Limited liability partnerships: the imminent business entity in Malaysia
title_short	'New kid on the block!!' Limited liability partnerships: the imminent business entity in Malaysia
title_full	'New kid on the block!!' Limited liability partnerships: the imminent business entity in Malaysia
title_fullStr	'New kid on the block!!' Limited liability partnerships: the imminent business entity in Malaysia
title_full_unstemmed	'New kid on the block!!' Limited liability partnerships: the imminent business entity in Malaysia
title_sort	'new kid on the block!!' limited liability partnerships: the imminent business entity in malaysia
publisher	LexisNexis Malaysia Sdn Bhd
publishDate	2009
url	http://irep.iium.edu.my/7582/ http://irep.iium.edu.my/7582/1/2009-_New_kid_on_the_block%21_Limited_liability_partnerships-_the_imminent_business_entity_in_Malaysia.pdf
first_indexed	2023-09-18T20:17:03Z
last_indexed	2023-09-18T20:17:03Z
_version_	1777407857498521600

'New kid on the block!!' Limited liability partnerships: the imminent business entity in Malaysia

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