Membership

7Ex-members

1

This section applies where a member of a limited liability partnership has either ceased to be a member or—

a

has died,

b

has become bankrupt or had his estate sequestrated or has been wound up,

c

has granted a trust deed for the benefit of his creditors, or

d

has assigned the whole or any part of his share in the limited liability partnership (absolutely or by way of charge or security).

2

In such an event the former member or—

a

his personal representative,

b

his trustee in bankruptcy or liquidator,

c

his trustee under the trust deed for the benefit of his creditors, or

d

his assignee,

may not interfere in the management or administration of any business or affairs of the limited liability partnership.

3

But subsection (2) does not affect any right to receive an amount from the limited liability partnership in that event.