Committee passes government amendment to Partnership Law

Economic Committee of the Parliament has passed the amendment to the Law of Partnerships by the government.

The amendment presented by the MP for Gemanafushi constituency, Jameel Usman to include the number of partners of a business in the partnership agreement was passed by the unanimous vote of the Committee members in attendance.

The number of maximum partners must be included in the partnership agreement according to MP Usman's amendment as opposed to the original which says that the maximum partners in a business agreement is 20.

It also states that every partnership must have a managing partner who must live in the Maldives mostly.

A number of MPs supported MP Usman's amendment to the Liability Partnership, under Partnership Law, so that partners must be responsible for debts. But some said there were problems in the amendment.