CHAPTER 13 CHAPTER 13 FRAUDULENT TRADING
44. 44. Fraudulent trading
Section 857 applies to LLPs, modified so that it reads as follows —
857. Fraudulent trading(1) If any business of an LLP is carried on with intent to defraud creditors of the LLP or creditors of any other person, or for any fraudulent purpose, a contravention of the Companies Regulations is committed by every person who is knowingly a party to the carrying on of the business in that manner.(2) This applies whether or not the LLP has been, or is in the course of being, wound up.(3) A person who commits the contravention referred to in subsection (1) shall be liable for a fine of up to level 8.(4) The provisions of this section are without prejudice to any other fine, censure or legal proceeding to which a member may be subject under the Companies Regulations or any other law or regulation applicable in the Abu Dhabi Global Market."