PARTNERSHIP ACT 1891 - As at 28 May 2012 - Act 7 of 1891
Table of Provisions
CHAPTER 1 - PRELIMINARY
PART 1 - CITATION
- 1 Short title
- 2 Notes in text
PART 2 - INTERPRETATION
PART 3 - APPLICATION
CHAPTER 2 - PARTNERSHIPS GENERALLY
PART 1 - NATURE OF PARTNERSHIP
- 6 Rules for deciding existence of partnership
- 7 Postponement of rights of person lending or selling in consideration of share of profits in case of insolvency
PART 2 - RELATIONS OF PARTNERS TO PERSONS DEALING WITH THEM
- 8 Power of partner to bind the firm
- 9 Partners bound by acts on behalf of firm
- 10 Partner using credit of firm for private purposes
- 11 Effect of notice that firm will not be bound by acts of partner
- 12 Liability of partners
- 13 Liability of the firm for wrongs
- 14 Misapplication of money or property received for or in custody of the firm
- 15 Liability for wrongs joint and several
- 16 Improper employment of trust property for partnership purposes
- 17 Persons liable by ‘holding out’
- 18 Admissions and representations of partners
- 19 Notice to acting partner to be notice to the firm
- 20 Liabilities of incoming and outgoing partners
- 21 Revocation of continuing guaranty by change in firm
PART 3 - RELATIONS OF PARTNERS TO ONE ANOTHER
- 22 Variation by consent of terms of partnership
- 23 Partnership property of firms other than incorporated limited partnerships
- 23A Partnership property of incorporated limited partnership
- 24 Property bought with partnership money
- 25 Conversion into personal estate of land held as partnership property
- 26 Procedure against partnership property for a partner’s separate judgment debt
- 27 Rules as to interests and duties of partners subject to special agreement
- 28 Expulsion of partner
- 29 Retirement from partnership at will
- 30 If partnership for term is continued over, continuance on old terms presumed
- 31 Duty of partners to render accounts etc.
- 32 Accountability of partners for private profits
- 33 Duty of partner not to compete with firm
- 34 Rights of assignee of share in partnership
PART 4 - DISSOLUTION OF PARTNERSHIP AND ITS CONSEQUENCES
- 34A Part does not apply to incorporated limited partnerships
- 35 Dissolution by expiration or notice
- 36 Dissolution by insolvency, death, or charge
- 37 Dissolution by illegality of partnership
- 38 Dissolution by the court
- 39 Rights of persons dealing with firm against apparent members of firm
- 40 Right of partners to notify dissolution
- 41 Continuing authority of partners for purposes of winding up
- 42 Rights of partners as to application of partnership property
- 43 Apportionment of premium if partnership prematurely dissolved
- 44 Rights if partnership dissolved for fraud or misrepresentation
- 45 Right of outgoing partner in certain cases to share profits made after dissolution
- 46 Retiring or deceased partner’s share to be a debt
- 47 Rule for distribution of assets on final settlement of accounts
CHAPTER 3 - LIMITED PARTNERSHIPS
PART 1 - PRELIMINARY
PART 2 - FORMATION AND MAINTENANCE OF LIMITED PARTNERSHIPS
PART 3 - MODIFICATION OF GENERAL LAW OF PARTNERSHIP
PART 4 - DISSOLUTION AND CESSATION OF LIMITED PARTNERSHIPS
PART 5 - MISCELLANEOUS PROVISIONS
- 65 Legal proceedings
- 66 Duty to notify chief executive of changes
- 67 Chief executive may accept and record notices given by person registered as a partner
- 68 Chief executive’s power to cancel limited partnership’s registration
- 69 Chief executive’s power to revoke cancellation of registration
CHAPTER 4 - INCORPORATED LIMITED PARTNERSHIPS
PART 1 - PRELIMINARY
PART 2 - NATURE AND FORMATION OF INCORPORATED LIMITED PARTNERSHIPS
- 71 Partnership is formed on registration
- 72 Partnership is separate legal entity
- 73 Partners in an incorporated limited partnership
- 74 Partnership agreement
PART 3 - REGISTRATION OF INCORPORATED LIMITED PARTNERSHIPS
PART 4 - POWERS OF INCORPORATED LIMITED PARTNERSHIPS
- 83 Powers of partnership
- 84 Relationship of partners to others and between themselves
PART 5 - LIABILITY AND POWERS OF LIMITED PARTNERS
PART 6 - WINDING UP OF INCORPORATED LIMITED PARTNERSHIP
- 95 Definition for pt 6
- 96 Voluntary winding up
- 97 Winding up on chief executive’s certificate
- 98 Review of certificate
- 99 Procedure for winding up on certificate
- 100 Distribution of assets on winding up required on chief executive’s certificate
- 101 Application of Corporations Act to winding up
- 102 Chief executive to be notified of winding up
- 103 Cancellation of registration
PART 7 - MISCELLANEOUS PROVISIONS
- 104 Execution of documents
- 105 Entitlement to make assumptions
- 106 Assumptions that can be made under s 105
- 107 Identification of incorporated limited partnerships
- 108 Registered office
- 109 Lodgement of certain documents with the chief executive
- 110 Duty to give information
- 111 Offences by partnerships and partners
CHAPTER 5 - GENERAL PROVISIONS
CHAPTER 6 - SAVINGS AND TRANSITIONAL PROVISIONS
PART 1 - SAVINGS PROVISION FOR ACT NO. 7 OF 1891
- 121 Saving of rules of equity and common law
PART 2 - (Repealed)
PART 3 - TRANSITIONAL PROVISIONS FOR ACT NO. 94 OF 2003
- 123 Transitional provision for Tourism, Racing and Fair Trading (Miscellaneous Provisions) Act 2003
PART 4 - TRANSITIONAL PROVISIONS FOR PARTNERSHIP AND OTHER ACTS AMENDMENT ACT 2004
- 124 Continuation of limited partnerships under the Partnership (Limited Liability) Act
- 125 Continuation of register under the Partnership (Limited Liability) Act
- 126 Applications under the Partnership (Limited Liability) Act
- 127 Regulations under Partnership (Limited Liability) Act preserved
- 128 Prescribed forms under Partnership (Limited Liability) Act
- 129 Relation between members of any company registered under State Companies Acts not affected
- 130 Liability
- 131 References to Partnership (Limited Liability) Act 1988