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S.L. 370.53 · Investment Services Act (Special Limited (S.L. 370.53)

S.L. 370.53 Art. 6Special Limited Partnership Fund name.  Cap. 386.

In KraftAmtlicher Text

(1) Subject to the provisions of sub-regulations (3)

and (4), a Special Limited Partnership Fund may be designated by any name, but such name shall end with the words "Special Limited Partnership Fund" or its abbreviation "SLPF" or "S.L.P.F.".

(2) (a) A person carrying on any business in Malta, other than through a Special Limited Partnership Fund or a partner therein, shall not in any way or manner describe itself or himself or so hold itself or himself out or reasonably be understood to indicate, or use any name which indicates or may reasonably be understood to indicate that it or he is, or is carrying on business through a Special Limited Partnership Fund or, as the case may be, a partner therein.

(b) Without prejudice to paragraph (a), an undertaking which is validly established under the laws of a country other than Malta with a name which includes "Special Limited Partnership Fund" or its abbreviation "SLPF" or "S.L.P.F.", or a partner therein, lawfully carrying on business in Malta, shall not be deemed to be in breach of paragraph (a) simply by reason of the fact that it uses and carries on such business under the name by which such undertaking is so validly established in its country of registration or, as the case may be, describes himself as a partner in such undertaking with such name.

(3) A Special Limited Partnership Fund shall not be established by a name which:

(a) is the same as the name of another commercial partnership registered under the Companies Act, or so nearly similar that, in the opinion of the competent authority, could create confusion;

(b) is the same as the name of a Special Limited Partnership Fund or so nearly similar that, in the opinion of the competent authority, could create confusion; or

(c) is in the opinion of the competent authority offensive or otherwise undesirable:

Provided that the competent authority shall notify without delay the person requesting such applicable name of any refusal under this sub-regulation:

Provided further that in applying paragraph (c), the competent authority shall have regard to the protection of the names of individuals who are not connected in any way with the said Special Limited Partnership Fund.

(4) The name of a limited partner or a distinctive part thereof may not form part of the name of the Special Limited Partnership Fund:

Provided that a limited partner who knowingly allows his name or a distinctive part thereof to be used in the name of a Special Limited Partnership Fund shall be liable as a general partner.