(1) Notwithstanding section 86, the international partners of an international partnership shall maintain or cause to be maintained at the registered office of the international partnership, a Register of Contributions in the prescribed form, in which shall be recorded —
(a) the name and address of each partner;
(b) the amount and dates of any contribution of each partner; and
(c) the amount and date of any payment representing a return of any part of any partner's contribution.
(2) An international partnership shall file with its registered agent, by the 15th day of February of each year and in the prescribed form, a Register of Contributions for the previous calendar year. (Amended by Act 24 of 2016)
(3) An international partnership that fails to submit the Register of Contributions as required under subsection (2) is liable to pay, before the 31st day of March of the year, a penalty of US$250 for late submission of its Register of Contributions to avoid being struck off the Register. (Amended by Act 24 of 2016)
(4) In addition to the penalty under subsection (3), the registered agent of an international partnership must submit to the Registrar a declaration, in the prescribed form, that the Register of Contributions has been received by the registered agent of the international partnership.
(5) Notwithstanding subsections (3) and (4), an international partnership that fails to submit the Register of Contributions as required under subsection (2), is liable to pay a penalty of US$250 for every year or part thereof that the international partnership fails to file its Register of Contributions that must be paid on or before the date prescribed for payment of the annual fee as required under section 96.
(6) A registered agent of an international partnership shall file with the Registrar, by the 31st day of March of each year and in the prescribed form, a list declaring the name and registration number of any international partnership which has failed to comply with subsections (1) and (2). (Amended by Act 15 of 2016)
(7) Where an international partnership fails to submit a Register of Contributions as required under subsection (2), the Registrar shall, within ninety days from the 31st day of March of each year, by notice published in the Gazette state —
(a) the name of the international partnership to be struck off the Register;
(b) the due date for filing a Register of Contributions;
(c) the applicable penalty for failing to file a Register of Contributions as required under subsection (2).
(Amended by Act 24 of 2016)
(8) A Notice published pursuant to subsection (7) shall take effect from the 1st day of January of the next year and must be served on an international partnership at the office of its registered agent.
(Substituted by Act 9 of 2015)