ICANBusiness LawPartnership Law2022

Pursuant to Section 795(2) of the Companies and Allied Matters Act (CAMA) 2020, what is the maximum number of partners permitted in a Limited Partnership (LP), and how does this restriction apply to a Limited Liability Partnership (LLP)?

AMaximum of 20 partners for an LP; no statutory upper limit for an LLPCORRECT
BMaximum of 20 partners for an LP; maximum of 50 partners for an LLP
CMaximum of 50 partners for an LP; no statutory upper limit for an LLP
DNo statutory upper limit for an LP; maximum of 20 partners for an LLP
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Section 795(2) of CAMA 2020 caps the maximum number of partners in a Limited Partnership (LP) at 20 persons. In contrast, Part C of CAMA 2020 imposes no upper ceiling on the number of partners permitted in a Limited Liability Partnership (LLP).
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