S.L. 370.53 Art. 4Formation of a Special Limited Partnership Fund.

(1) A Special Limited Partnership Fund is a collective investment scheme established in terms of these regulations and formed by means of a Partnership Agreement, and shall consist of two

(2) or more partners, at least one (1) of which shall be a general partner and at least one (1) of which shall be a limited partner. A Special Limited Partnership Fund shall not have a separate legal personality, shall have a partnership name and shall additionally be constituted and registered as provided in these regulations:

Provided that a collective investment scheme may only be established as a Special Limited Partnership Fund if it is licensed, recognised by, notified to, or otherwise regulated by the competent authority:

Provided further that a Special Limited Partnership Fund shall be deemed to have come into existence once it is duly registered by the competent authority in the register.

(2) A Special Limited Partnership Fund shall not have legal personality separate and distinct from that of its partners and shall accordingly not be the subject of rights and obligations, it is not capable of owning and holding property under any title at law and of suing or be sued in its own name.