Queensland Consolidated Acts

PARTNERSHIP ACT 1891 - SECT 73

(1) An incorporated limited partnership must have--

(a) at least 1 general partner but no more than 20 general partners; and

(b) at least 1 limited partner.

Note--

There is no limit on the number of limited partners.

(2) Any of the following may be a general partner or a limited partner--

(a) an individual;

(b) a partnership;

(c) a body corporate.

(3) For subsection (1)(a), if a general partner is a partnership and no partner in the partnership has, under the relevant law, limited liability, the number of partners in the partnership is to be counted.

(4) Also for subsection (1)(a), if a general partner is a partnership and any partner in the partnership has, under the relevant law, limited liability--

(a) the number of partners in the partnership who do not have limited liability is to be counted; and

(b) the number of partners in the partnership who do have limited liability is not to be counted.

(5) In this section--

limited liability means limited liability for the liabilities of the partnership.

relevant law, for a partnership, means the law of the place where the partnership is formed.