Part 2 – Limited partnerships etc Changes in partnerships Section 122: Notification of information about partners
This section inserts new sections 8R to 8W into the Limited Partnership Act 1907. New section 8R requires general partners to notify the Registrar of changes to a limited partnership’s partners. New section 8S requires general partners to notify the register of changes to required information about partners (including confirmation that general partners which are legal entities have a registered officer who is compliant with identity verification requirements). New section 8T concerns notifying the Registrar about changes occurring in the period between application for the limited partnership’s registration and its registration.
	New section 8U provides that if the general partners fail to comply with sections 8R, 8S or 8T, then they will have committed an offence and are liable on conviction to a fine. New section 8V prohibits new general partners from managing the limited partnership until a notice is given under section 8R. If this prohibition is not complied with, then that general partner commits an offence and is liable on conviction to a fine.
	New section 8W gives a power to the Secretary of State to authorise or require the Registrar to change the service address or principal office of a general partner if they do not meet the necessary requirements. This supports the Registrar in maintaining an accurate record of information on general partners.