Queensland Consolidated Acts Queensland Consolidated Acts(1) A written partnership agreement between the partners in an incorporated limited partnership must be in force at all times.
(2) A partnership agreement also has effect as a contract between the incorporated limited partnership and each partner under which the partnership and each partner agree to observe and perform the agreement so far as it applies to them.
(3) Nothing in subsection (2) prevents an incorporated limited partnership itself executing a partnership agreement.
(4) The interests of the partners in an incorporated limited partnership and their rights and duties in relation to the partnership are, subject to this Act, to be decided in accordance with the agreement.