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PARTNERSHIP ACT 1892 - SECT 49 Definitions

PARTNERSHIP ACT 1892 - SECT 49

Definitions

49 Definitions

In this Act--


"external partnership" means a partnership (or legal entity, however described, in the nature of a partnership) formed in accordance with a law of another State, a Territory or another country or jurisdiction, whether or not under that law the liability of any partner for the liabilities of the partnership (or entity) is limited and whether or not under that law the partnership (or entity) is incorporated or is otherwise a separate legal entity.


"firm-name" of--

(a) an incorporated limited partnership--means the name of the partnership recorded in the Register, and
(b) of an external partnership--means the name under which, in accordance with the law of the place in which it is formed, the partnership carries on the business of the partnership.

"general partner" --
(a) in a limited partnership--means a partner in the limited partnership who is not a limited partner, and
(b) in an incorporated limited partnership--means a person or partnership (including an external partnership) admitted as a partner in the incorporated limited partnership in accordance with the partnership agreement and who is not a limited partner.

"incorporated limited partnership" means an incorporated limited partnership formed in accordance with section 50A (2).


"liability" includes any debt, obligation or other liability of any kind, wherever and however incurred.


"limited partner" --
(a) in a limited partnership--means a partner in the limited partnership whose liability for the liabilities of the partnership is limited in accordance with this Part, and
(b) in an incorporated limited partnership--means a person or partnership (including an external partnership) admitted and designated as a limited partner in the incorporated limited partnership in accordance with the partnership agreement.

"limited partnership" means a limited partnership formed in accordance with section 50A (1).


"partner" in a limited partnership or incorporated limited partnership means a general partner or a limited partner.


"Register" means the Register of Limited and Incorporated Limited Partnerships kept under this Part.


"registered particulars" means particulars recorded in the Register under section 55 (3).


"Registrar" means--
(a) the Commissioner for Fair Trading, Department of Customer Service, or
(b) if there is no person employed as Commissioner for Fair Trading--the Secretary of the Department of Customer Service.