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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

30 June 1991

2

A2001-44

4 January 2002

3

A2004-62

22 November 2004

4

A2005-43

1 October 2005

5

A2006-40

29 September 2006

6

A2008-22

29 July 2008

7

A2009-20

22 September 2009

8

A2011-48

1 March 2012

9

A2012-2

28 May 2012













© Australian Capital Territory 2015

ACT
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Australian Capital Territory

A1963-5

Republication No 10

Effective: 14 October 2015

Republication date: 14 October 2015

Last amendment made by A2015-33











Unauthorised version prepared by ACT Parliamentary Counsel's Office



About this republication

The republished law

This is a republication of the Partnership Act 1963

(including any amendment made under the Legislation Act 2001

, part 11.3 (Editorial changes)) as in force on 14 October 2015

. It also includes any commencement, amendment, repeal or expiry affecting this republished law to 14 October 2015

.

The legislation history and amendment history of the republished law are set out in endnotes 3 and 4.

Kinds of republications

The Parliamentary Counsel's Office prepares 2 kinds of republications of ACT laws (see the ACT legislation register at www.legislation.act.gov.au

):

              • authorised republications to which the Legislation Act 2001

applies

              • unauthorised republications.

The status of this republication appears on the bottom of each page.

Editorial changes

The Legislation Act 2001

, part 11.3 authorises the Parliamentary Counsel to make editorial amendments and other changes of a formal nature when preparing a law for republication. Editorial changes do not change the effect of the law, but have effect as if they had been made by an Act commencing on the republication date (see Legislation Act 2001

, s 115 and s 117). The changes are made if the Parliamentary Counsel considers they are desirable to bring the law into line, or more closely into line, with current legislative drafting practice.

This republication does not include amendments made under part 11.3 (see endnote 1).

Uncommenced provisions and amendments

If a provision of the republished law has not commenced, the symbol  U  appears immediately before the provision heading. Any uncommenced amendments that affect this republished law are accessible on the ACT legislation register (www.legislation.act.gov.au

). For more information, see the home page for this law on the register.

Modifications

If a provision of the republished law is affected by a current modification, the symbol  M  appears immediately before the provision heading. The text of the modifying provision appears in the endnotes. For the legal status of modifications, see the Legislation Act 2001

, section 95.

Penalties

At the republication date, the value of a penalty unit for an offence against this law is $150 for an individual and $750 for a corporation (see Legislation Act 2001

, s 133).

ACT
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Endnotes78

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