PARTNERSHIP ACT 1963 - NOTES
PARTNERSHIP ACT 1963 - NOTES
Dictionary
(see s 2)
Note 1 The Legislation Act
contains definitions and other provisions relevant to this Act.
Note 2 For example, the Legislation Act
, dict, pt 1, defines the following terms:
• ACT
• commissioner for fair trading
• exercise
• function
• notifiable instrument
• property
• public servant
• registrar-general
• under.
"assets", for division 6.6 (Winding-up of incorporated limited
partnership)—see section 76.
"business" includes a trade, occupation or
profession.
"external partnership—"see section 51.
"firm "means—
(a) for a partnership other than an incorporated limited
partnership—the collective name for the people who have entered the
partnership with one another; and
(b) for an incorporated limited partnership—the partnership as a
separate legal entity and not the partners in the partnership.
"firm name"—
(a) for a firm other than an incorporated limited partnership—means
the name under which the firm's business is carried on; and
(b) for an incorporated limited partnership—see section 51;
and
(c) for an external partnership—see section 51.
"general partner"—see section 51.
"incorporated limited partnership"—see section
51.
"liability", for part 6 (Incorporated limited
partnerships)—see section 51.
"limited partner", for part 6 (Incorporated limited
partnerships)—see section 51.
"partner", for an incorporated limited partnership—see
section 51.
"partnership—"see section 6.
"partnership property—"
(a) of a firm other than an incorporated limited partnership—see
section 24; and
(b) of an incorporated limited partnership—see section
24A.
"register", for part 6 (Incorporated limited
partnerships)—see section 60.
"registered information", for part 6 (Incorporated limited
partnerships)—see section 59 (4) (Registration of incorporated limited
partnership).
"special resolution", for part 6 (Incorporated limited
partnerships)—see section 51.
Endnotes
1 About
the endnotes
Amending and modifying laws are annotated in the legislation history and
the amendment history. Current modifications are not included in the
republished law but are set out in the endnotes.
Not all editorial amendments made under the Legislation Act 2001
, part 11.3 are annotated in the amendment history. Full details of any
amendments can be obtained from the Parliamentary Counsel's
Office.
Uncommenced amending laws are not included in the republished law. The
details of these laws are underlined in the legislation history. Uncommenced
expiries are underlined in the legislation history and amendment
history.
If all the provisions of the law have been renumbered, a table of
renumbered provisions gives details of previous and current numbering.
The endnotes also include a table of earlier republications.
2 Abbreviation
key
A = Act
|
NI = Notifiable instrument
|
AF = Approved form
|
o = order
|
am = amended
|
om = omitted/repealed
|
amdt = amendment
|
ord = ordinance
|
AR = Assembly resolution
|
orig = original
|
ch = chapter
|
par = paragraph/subparagraph
|
CN = Commencement notice
|
pres = present
|
def = definition
|
prev = previous
|
DI = Disallowable instrument
|
(prev...) = previously
|
dict = dictionary
|
pt = part
|
disallowed = disallowed by the Legislative
|
r = rule/subrule
|
Assembly
|
reloc = relocated
|
div = division
|
renum = renumbered
|
exp = expires/expired
|
R[X] = Republication No
|
Gaz = gazette
|
RI = reissue
|
hdg = heading
|
s = section/subsection
|
IA = Interpretation Act 1967
|
sch = schedule
|
ins = inserted/added
|
sdiv = subdivision
|
LA = Legislation Act 2001
|
SL = Subordinate law
|
LR = legislation register
|
sub = substituted
|
LRA = Legislation (Republication) Act
1996
|
underlining = whole or part not
commenced
|
mod = modified/modification
|
or to be expired
|
3 Legislation
history
This Act was originally a Commonwealth ordinance—the Partnership Ordinance 1963
No 5 (Cwlth).
The Australian Capital Territory (Self-Government) Act 1988
(Cwlth), s 34 (4) converted most former Commonwealth
ordinances in force in the ACT into ACT enactments. This allowed the ACT
Legislative Assembly to amend and repeal the laws. This Act was converted into
an ACT enactment on 11 May 1989 (self-government day).
As with most ordinances in force in the ACT, the name was changed from
Ordinance to Act by the Self-Government (Citation of Laws) Act 1989
A1989-21, s 5 on 11 May 1989 (self-government day).
Before 11 May 1989, ordinances commenced on their notification day unless
otherwise stated (see Seat of Government (Administration) Act 1910
(Cwlth), s 12).
Legislation before
self-government
Partnership Act 1963 A1963-5
notified 4 April 1963
commenced 4 April 1963
Ordinances Revision (Decimal Currency) Ordinance 1966
Ord1966-19
notified 23 December 1966
commenced 23 December 1966
Ordinances Revision Ordinance 1977
Ord1977-65
notified 22 December 1977
commenced 23 December 1977
Legislation after
self-government
Justice and Community Safety Amendment Act 2001
A2001-9 sch 1
notified 8 March 2001 (Gaz 2001 No 10
)
commenced 8 March 2001 (s 2)
Legislation (Consequential Amendments) Act 2001
A2001-44 pt 275
notified 26 July 2001 (Gaz 2001 No 30
)
s 1, s 2 commenced 26 July 2001 (IA s
10B)
pt 275 commenced 12 September 2001 (s 2 and see Gaz 2001 No S65
)
Partnership (Venture Capital Funds) Amendment Act 2004
A2004-62
notified LR 2 September
2004
s 1, s 2 commenced 2 September 2004 (LA s 75
(1))
remainder commenced 22 November 2004 (s 2 and CN2004-27
)
Justice and Community Safety Legislation Amendment Act 2005 (No 3)
A2005-43 sch 1 pt 1.8
notified LR 30 August
2005
s 1, s 2 commenced 30 August 2005 (LA s 75
(1))
sch 1 pt 1.8 commenced 1 October 2005 (s 2 (3)
and CN2005-18
)
Justice and Community Safety Legislation Amendment Act 2006
A2006-40 sch 2 pt 2.26
notified LR 28 September 2006
s 1, s 2 commenced 28 September 2006 (LA s 75
(1))
sch 2 pt 2.26 commenced 29 September 2006 (s 2
(1))
Justice and Community Safety Legislation Amendment Act 2008 (No 2)
A2008-22 sch 1 pt 1.8
notified LR 8 July 2008
s 1, s 2 commenced 8 July 2008 (LA s 75
(1))
sch 1 pt 1.8 commenced 29 July 2008 (s
2)
Statute Law Amendment Act 2009
A2009-20 sch 3 pt 3.56
notified LR 1 September 2009
s 1, s 2 commenced 1 September 2009 (LA s 75
(1))
sch 3 pt 3.56 commenced 22 September 2009 (s
2)
Evidence (Consequential Amendments) Act 2011
A2011-48 sch 1
pt 1.29
notified LR 22 November 2011
s 1, s 2 commenced 22 November 2011 (LA s 75
(1))
sch 1 pt 1.29 commenced 1 March 2012 (s 2 (1) and see Evidence Act 2011
A2011-12, s 2 and CN2012-4
)
Business Names Registration (Transition to Commonwealth) Act 2012
A2012-2 sch 2 pt 2.5
notified LR 28 February 2012
s 1, s 2 commenced 28 February 2012 (LA s 75
(1))
sch 2 pt 2.5 commenced 28 May 2012 (s 2
(2))
Red Tape Reduction Legislation Amendment Act 2015
A2015-33 sch 1 pt 1.49
notified LR 30 September 2015
s 1, s 2 commenced 30 September 2015 (LA s 75
(1))
sch 1 pt 1.49 commenced 14 October 2015 (s
2)
4 Amendment
history
Name of
Act
s 1 sub A2001-9
amdt 1.19
Dictionary
s
2 om Ord1977-65
ins A2001-9
amdt
1.19
sub A2004-62
s 4
Notes
s
3 om A2001-9
amdt
1.19
ins A2004-62
s 4
Offences against Act—application of
Criminal Code etc
s 4 om A2001-9
amdt
1.19
ins A2004-62
s 4
Application of certain laws and rules of
equity
s 5 sub A2004-62
s 5
Meaning of
partnership
s 6 sub A2004-62
s 6
Rules for determining existence of
partnership
s 7 am A2004-62
s 7; A2005-43
amdt 1.16
Firms and firm
names
s 8 om A2004-62
s 8
Power of certain partners to bind
firm
s 9 sub A2004-62
s 9
Partners bound by acts on behalf of
firm
s 10 sub A2004-62
s 9
Partner using credit of firm for private
purpose
s 11 sub A2004-62
s 9
Effect of notice that firm will not be bound
by acts of partner
s 12 sub A2004-62
s 9
Liability of
partner
s 13 sub A2004-62
s 9
Liability of firm not incorporated limited
partnership for wrongs
s 14 hdg sub A2004-62
s 10
s
14 sub A2001-9
amdt
1.20
am A2004-62
ss 11-13
Liability of incorporated limited
partnership for wrongs
s 14A ins A2004-62
s 14
Misapplication of money or property received
for, or in custody of, firm
s 15 sub
A2004-62
s 15
Liability for wrongs joint and
several
s 16 sub A2004-62
s 15
Improper use of trust property for
partnership other than incorporated limited
partnership
s 17 sub A2004-62
s 15
Improper use of trust property for
incorporated limited partnership
s
17A ins A2004-62
s 15
People liable by holding
out
s 18 sub A2004-62
s 15
Admissions and representations of
partners
s 19 sub A2004-62
s 15
Notice to acting partners is notice to
firm
s 20 sub A2004-62
s 15
Liabilities of incoming and outgoing
partners
s 21 sub A2004-62
s 15
Revocation of continuing guarantee by change
of firm
s 22 am A2004-62
s 16, s 17
Partnership property of firms other than
incorporated limited partnerships
s 24
hdg sub A2004-62
s 18
s
24 am A2004-62
s 19
Partnership property of incorporated limited
partnership
s 24A ins A2004-62
s 20
Land bought by co-owners out of profits from
land—other than incorporated limited
partnerships
s 25 hdg sub A2004-62
s 21
s
25 am A2004-62
s 22, s 23
Conversion into personalty of land held by
firm
s 27 am A2004-62
s 24, s 25
Procedure against partnership property for
partner's separate judgment
debt
s 28 am A2001-9
amdt 1.21; A2004-62
s 26
om
A2006-40
amdt 2.168
Rules about interests and duties of partners
other than in incorporated limited
partnership
s 29 hdg sub A2004-62
s 27
s
29 am Ord1966-19
; A2004-62
s 28
Retirement from partnership at
will
s 31 am A2004-62
s 29, s 30
Partnership for term continued
over
s 32 am A2004-62
s 31
Duty of partner to give
accounts
s 33 sub A2004-62
s 32
Accountability of partners for private
profits
s 34 am A2004-62
s 33
Duty of partner not to compete with
firm
s 35 am A2004-62
s 34, s 35
Rights of assignee of share in
partnership
s 36 am A2004-62
s 36
Application of pt
5
s 36A ins A2004-62
s 37
Dissolution of partnership by death,
bankruptcy, charge etc
s 38 sub A2005-43
amdt 1.17
Dissolution by Supreme
Court
s 40 hdg am A2001-9
amdt
1.22
s 40 am A2001-9
amdts 1.23, 1.24
Rights of persons dealing with firm against
apparent members of firm
s 41 am A2005-43
amdt 1.18
Right of partners to notify
dissolution
s 42 sub A2015-33
amdt 1.159
Public notice of dissolution or
change
s 43 am A2001-44
amdt 1.3098; A2009-20
amdt
3.147
sub A2015-33
amdt 1.159
Continuing authority of partners for
winding-up
s 44 sub A2005-43
amdt 1.19
Rights of partners to application of
partnership property
s 45 am A2001-9
amdt 1.25
Apportionment of premium when partnership
prematurely dissolved
s 46 am A2001-9
amdt 1.26
Right of outgoing partner in certain cases
to share profits made after
dissolution
s 48 am Ord1966-19
; A2001-9
amdt 1.27
Incorporated limited
partnerships
pt 6 hdg ins A2004-62
s 38
Preliminary
div
6.1 hdg ins A2004-62
s 38
Definitions for pt
6
s 51 ins A2004-62
s
38
def external partnership
ins A2004-62
s
38
def firm name ins A2004-62
s
38
def general partner ins
A2004-62
s
38
def incorporated limited
partnership ins A2004-62
s
38
def liability ins A2004-62
s
38
def limited partner ins
A2004-62
s
38
def partner ins A2004-62
s
38
def register ins A2004-62
s
38
def registered
information ins A2004-62
s
38
def special resolution
ins A2004-62
s 38
Application of other provisions of this
Act
s 52 ins A2004-62
s 38
Nature and formation of incorporated limited
partnerships
div 6.2 hdg ins A2004-62
s 38
Incorporated limited partnership formed on
registration
s 53 ins A2004-62
s 38
Incorporated limited partnership is separate
legal entity
s 54 ins A2004-62
s 38
Partners in incorporated limited
partnership
s 55 ins A2004-62
s 38
Partnership
agreement
s 56 ins A2004-62
s 38
Registration of incorporated limited
partnerships
div 6.3 hdg ins A2004-62
s 38
Who may apply for
registration
s 57 ins A2004-62
s 38
am
A2008-22
amdt 1.39, amdt 1.40
Application for
registration
s 58 ins A2004-62
s 38
am
A2008-22
amdt 1.41, amdt 1.42
Registration of incorporated limited
partnership
s 59 ins A2004-62
s 38
am
A2012-2
amdt 2.7; ss renum R9 LA
Register of incorporated limited
partnerships
s 60 ins A2004-62
s 38
Changes in registered
information
s 61 ins A2004-62
s 38
Certificates of registration
etc
s 62 ins A2004-62
s 38
Business Names Registration Act (Cwlth) not
to apply
s 63 ins A2004-62
s
38
sub A2012-2
amdt 2.8
Acts preparatory to registration do not
create partnership
s 64 ins A2004-62
s 38
Powers of incorporated limited
partnerships
div 6.4 hdg ins A2004-62
s 38
Powers of
partnership
s 65 ins A2004-62
s 38
Relationship of partners to others and
between themselves
s 66 ins A2004-62
s 38
Liability and powers of limited
partners
div 6.5 hdg ins A2004-62
s 38
Limitation of liability of limited
partners
s 67 ins A2004-62
s 38
Limited partner not to take part in
incorporated limited partnership's
management
s 68 ins A2004-62
s 38
am
A2008-22
amdt 1.43
Interpretation for s
68
s 69 ins A2004-62
s 38
Differences between
partners
s 70 ins A2004-62
s 38
Change in
partners
s 71 ins A2004-62
s 38
Change in status of
partners
s 72 ins A2004-62
s 38
Liability for conduct, acts or omissions
outside the ACT
s 73 ins A2004-62
s 38
Incorporated limited partnerships formed
under corresponding laws
s 74 ins A2004-62
s 38
Effect of s 73 and s
74
s 75 ins A2004-62
s 38
Winding-up of incorporated limited
partnership
div 6.6 hdg ins A2004-62
s 38
Meaning of assets for div
6.6
s 76 ins A2004-62
s 38
Voluntary
winding-up
s 77 ins A2004-62
s 38
Winding-up on commissioner's
certificate
s 78 ins A2004-62
s 38
am
A2008-22
amdt 1.44; A2015-33
amdt 1.160
Review of
certificate
s 79 ins A2004-62
s 38
Procedure for winding-up on
certificate
s 80 ins A2004-62
s 38
am
A2015-33
amdt 1.161
Distribution of assets on winding-up
required on commissioner's
certificate
s 81 ins A2004-62
s 38
Displacement and application of Corporations
legislation etc
s 82 ins A2004-62
s 38
Commissioner to be told about
winding-up
s 83 ins A2004-62
s 38
Cancellation of
incorporation
s 84 ins A2004-62
s 38
Miscellaneous
div
6.7 hdg ins A2004-62
s 38
Execution of
documents
s 85 ins A2004-62
s 38
am
A2011-48
amdt 1.46
Entitlement to make
assumptions
s 86 ins A2004-62
s 38
Assumptions that may be made under s
86
s 87 ins A2004-62
s 38
Identification of incorporated limited
partnerships
s 88 ins A2004-62
s 38
Display of certificate of
registration
s 89 ins A2004-62
s 38
Registered
office
s 90 ins A2004-62
s 38
Certain documents to be given to
commissioner
s 91 ins A2004-62
s 38
am
A2008-22
amdt 1.45, amdt 1.46
Service on incorporated limited
partnership
s 92 ins A2004-62
s 38
Entry in register constitutes
notice
s 93 ins A2004-62
s 38
Duty to give
information
s 94 ins A2004-62
s 38
Secrecy
s
95 ins A2004-62
s 38
Offences by
partnerships
s 96 ins A2004-62
s 38
Delegation by
commissioner
s 97 ins A2004-62
s 38
Relationship with Corporations
legislation
s 98 ins A2004-62
s 38
Miscellaneous
pt
7 hdg ins A2004-62
s 38
Determination of
fees
s 99 ins A2004-62
s 38
Approved
forms
s 100 ins A2004-62
s 38
Regulation-making
power
s 101 ins A2004-62
s 38
am
A2009-20
amdts 3.148-3.150
Dictionary
dict ins
A2004-62
s 39
am
A2009-20
amdt 3.151; A2015-33
amdt
1.162
def assets ins A2004-62
s
39
def business ins A2004-62
s
39
def external partnership
ins A2004-62
s
39
def firm ins A2004-62
s
39
def firm name ins A2004-62
s
39
def general partner ins
A2004-62
s
39
def incorporated limited
partnership ins A2004-62
s
39
def liability ins A2004-62
s
39
def limited partner ins
A2004-62
s
39
def partner ins A2004-62
s
39
def partnership ins A2004-62
s
39
def partnership property
ins A2004-62
s
39
def register ins A2004-62
s
39
def registered information
ins A2009-20
amdt
3.152
def special
resolution ins A2004-62
s 39
5 Earlier
republications
Some earlier republications were not numbered. The number in column 1
refers to the publication order.
Since 12 September 2001 every authorised republication has been published
in electronic pdf format on the ACT legislation register. A selection of
authorised republications have also been published in printed format. These
republications are marked with an asterisk (*) in column 1. Electronic and
printed versions of an authorised republication are identical.
Republication No
|
Amendments to
|
Republication date
|
1
|
A1977-65 |