• Part III — Part III — Limited Partnership Company

    • Article (50)

      A limited partnership company is a company set up by one or more partners, who shall be jointly liable for the company's obligations to the extent of all their property, and by another or more partners, who have shares therein but are out of its management. The latter partners are called ing partners and shall be liable for the company's obligations only to the extent of their share in the capital.

    • Article (51)

      The company shall be registered in the Commercial Registry and made published in accordance with the provisions of article (30) of this law.

      The names of the ing partners may not be included in the summary of the company's contract, which must include however sufficient details of their shares in the capital and the values thereof.

    • Article (52)

      The rules applicable to the general partnership company shall apply to the limited partnership company, even in respect of the ing partners, as regards its incorporation, management, termination and liquidation with due consideration to the following articles.

    • Article (53)

      The name of the limited partnership company shall only include the names of the joint partners. If there is only one partner who is liable in all his property, the word (& Co.) shall be added to his name.

      The name of the ing partner shall not be included in the name of the company. If it is included with his knowledge, he shall be liable as a joint partner towards third parties acting in good faith.

    • Article (54)

      The ing partner shall not interfere in the company's management even by a letter of delegation; otherwise he shall be jointly liable with the joint partners for the obligations arising from his management. He may be liable for all or some of the company's obligations depending on the seriousness and frequency of such actions, and depending on the trust held in him by third parties by virtue of such actions.

      However, supervision of the acts of the company's managers and the advice given to them and the authority granted to them to act beyond the scope of their powers shall not be deemed interference.

    • Article (55)

      The joint partners and the ing partners shall be specified in the company's memorandum of association. The joint partners shall be Bahrainis and their share in the capital of the company shall not be less than 51%.