Limited Partnership Deed Template for Pakistan

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Key Requirements PROMPT example:

Limited Partnership Deed

"I need a Limited Partnership Deed for a real estate development project in Lahore, Pakistan, with two general partners and five limited partners, where the limited partners will contribute 80% of the initial capital of PKR 50 million, with operations starting March 1, 2025."

What is a Limited Partnership Deed?

The Limited Partnership Deed is a fundamental document used in Pakistan when establishing a limited partnership structure, where one or more general partners manage the business while limited partners act as investors with restricted liability. This deed is essential for compliance with the Partnership Act 1932 and Limited Partnerships Act, 2017, and must be properly registered with relevant authorities in Pakistan. It typically includes detailed provisions on capital contributions, profit sharing, management rights, transfer restrictions, and dissolution procedures. The document is particularly useful for businesses seeking to attract passive investors while maintaining clear operational control through general partners, making it popular in real estate development, private equity, and various other commercial ventures in Pakistan.

What sections should be included in a Limited Partnership Deed?

1. Parties: Identification of all partners, distinguishing between general and limited partners, including their full names, addresses, and registration details if applicable

2. Background: Brief context of the partnership formation, business purpose, and intention of the parties

3. Definitions and Interpretation: Definitions of key terms used in the deed and rules for interpreting the document

4. Partnership Name and Business: Official name of the partnership and detailed description of its business activities

5. Term and Commencement: Duration of the partnership and its commencement date

6. Capital Contributions: Details of initial and any agreed future capital contributions from each partner

7. Profit and Loss Sharing: Formula and mechanism for distribution of profits and allocation of losses

8. Management and Control: Rights and responsibilities of general partners in managing the partnership

9. Limited Partners' Rights and Restrictions: Scope and limitations of limited partners' involvement and their rights

10. Banking and Financial Records: Requirements for maintaining partnership accounts and financial records

11. Transfer of Partnership Interest: Rules and procedures for transferring partnership interests

12. Dissolution and Winding Up: Circumstances and procedures for partnership dissolution

13. Governing Law and Jurisdiction: Specification of Pakistani law as governing law and relevant jurisdiction

14. Notices: Procedure for giving notices between partners and to the partnership

What sections are optional to include in a Limited Partnership Deed?

1. Non-Competition: Restrictions on partners engaging in competing businesses, used when partners have other business interests

2. Intellectual Property Rights: Ownership and use of IP within the partnership, important for technology or brand-focused businesses

3. Death or Incapacity of Partners: Procedures following death or incapacity of any partner, particularly relevant for family businesses

4. Dispute Resolution: Alternative dispute resolution procedures, recommended for complex partnerships

5. Insurance: Requirements for business insurance, important for high-risk businesses

6. Additional Capital Calls: Procedures for requesting additional capital, relevant for businesses anticipating expansion

7. Partnership Committee: Formation and powers of a partnership committee, useful for larger partnerships

What schedules should be included in a Limited Partnership Deed?

1. Schedule 1 - Capital Contributions: Detailed breakdown of each partner's initial capital contribution

2. Schedule 2 - Profit Sharing Ratios: Detailed formula and examples of profit and loss distribution

3. Schedule 3 - Business Plan: Initial business plan and objectives of the partnership

4. Schedule 4 - Partner Information: Detailed information about each partner including contact details and nominee information

5. Schedule 5 - Partnership Assets: List of assets contributed to or owned by the partnership

6. Appendix A - Registration Requirements: Checklist of registration requirements under Pakistani law

7. Appendix B - Management Procedures: Detailed procedures for partnership management and decision-making

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Real Estate Development

Private Equity

Venture Capital

Manufacturing

Trading

Professional Services

Technology

Agriculture

Retail

Construction

Healthcare

Hospitality

Relevant Teams

Legal

Corporate Affairs

Finance

Compliance

Risk Management

Investment

Business Development

Commercial

Company Secretarial

Operations

Relevant Roles

Legal Counsel

Corporate Lawyer

Business Development Manager

Investment Manager

Chief Financial Officer

Managing Partner

Company Secretary

Compliance Officer

Risk Manager

General Partner

Limited Partner

Investment Director

Partnership Administrator

Commercial Director

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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