PARTNERSHIP ACT 1958
Table of Provisions
PART 1--PRELIMINARY
PART 2--PARTNERSHIPS GENERALLY
Division 1--Nature of partnerships
- 5 Definition of partnership
- 6 Rules for determining existence of partnership
- 7 Postponement of rights of person lending or selling in case of bankruptcy[1]
- 8 Meaning of firm
Division 2--Relationship of partners to persons dealing with them
- 9 Power of partner to bind the firm
- 10 Partners bound by acts on behalf of firm
- 11 Partner using credit of firm for private purposes
- 12 Effect of notice that firm will not be bound by acts of partner
- 13 Liability of partners
- 14 Liability of the firm for wrongs
- 15 Misapplication of money or property
- 16 Liability for wrongs joint and several
- 17 Improper employment of trust property for partnership purposes
- 18 Persons liable by holding out
- 19 Admissions and representations of partners
- 20 Notice to acting partner to be notice to the firm
- 21 Liabilities of incoming and outgoing partners
- 22 Revocation of continuing guaranty by change in firm
Division 3--Relationship between partners
- 23 Variation by consent of terms of partnership
- 24 Partnership property
- 25 Property bought with partnership money
- 26 Personal estate held as partnership property
- 27 Procedure against partnership property for a partner's separate judgment debt
- 28 Rules etc. of partners when not subject to special agreement
- 28A Credit law excluded matter
- 29 Expulsion of partner
- 30 Retirement from partnership at will
- 31 Continuance of partnership on old terms
- 32 Duty of partners to render accounts etc.
- 33 Accountability of partners for private profits
- 34 Duty of partner not to compete with firm
- 35 Rights of assignee of share in partnership
Division 4--Dissolution of partnership
- 36 Dissolution by expiration or notice
- 37 Dissolution by death or bankruptcy or charge[2]
- 38 Dissolution by illegality of partnership
- 39 Dissolution by the court
- 40 Rights of persons dealing with firm against apparent members of firm
- 41 Right of partners to notify dissolution
- 42 Continuing authority of partners for purposes of winding up
- 43 Rights of partners as to application of partnership property
- 44 Apportionment of premium where partnership prematurely dissolved
- 45 Rights where partnership dissolved for fraud or misrepresentation
- 46 Share of profits made after dissolution
- 47 Retiring or deceased partner's share to be a debt
- 48 Rule for distribution of assets on final settlement of accounts
PART 3--LIMITED PARTNERSHIPS
Division 1--Preliminary
- 49 Definitions and application of Parts 1 and 2
Division 2--Nature and formation of limited partnerships
Division 3--Registration of limited partnerships
- 54 Application for registration
- 55 Registration of limited partnership
- 56 Changes in registered particulars
- 57 Register of Limited Partnerships
- 58 Certificates of registration etc.
Division 4--Limitation of liability of limited partners
- 60 Liability of limited partner limited to amount shown in Register
- 61 Change in liability of limited partner
- 62 Change in status of partners
- 63 Liability for business conducted outside the State
- 64 Liability for limited partnerships formed under corresponding laws
- 64A Effect of sections 63 and 64
- 65 Contribution towards discharge of debts etc.
- 66 Limitation on liability may not be varied by partnership agreement etc.
Division 5--Other modifications of general law of partnership
- 67 Limited partner not to take part in management of partnership
- 68 Differences between partners
- 69 Change in partners
Division 6--Dissolution and cessation of limited partnerships
- 70 Dissolution not available in certain cases
- 71 Cessation of limited partnerships
- 72 Registration of dissolution or cessation of limited partnership
- 73 Winding up by general partners
Division 7--Interests in partnerships
- 74 Regulations relating to interests
Division 8--Miscellaneous provisions
- 75 Identification of limited partnerships
- 76 Registered office
- 77 Service
- 78 Entry in Register constitutes notice
- 79 False and misleading statements
PART 4--GENERAL REQUIREMENTS
- 79A Signing of documents
- 79B Lodgment of documents
- 79C Method of lodgment
- 79D Approval of special lodging arrangements
- 79E Retention of records
- 79F Power of Director to refuse to register or reject documents
- 80 Regulations
PART 5--INCORPORATED LIMITED PARTNERSHIPS
Division 1--Preliminary
Division 2--Nature and formation of incorporated limited partnerships
- 83 Partnership is formed on registration
- 84 Partnership is separate legal entity
- 85 Partners in an incorporated limited partnership
- 86 Partnership agreement
Division 3--Registration of incorporated limited partnerships
- 87 Who may apply for registration?
- 88 How is an application made?
- 89 Registration of incorporated limited partnership
- 90 Register of Incorporated Limited Partnerships
- 91 Changes in registered particulars
- 92 Certificates of registration etc.
- 94 Acts preparatory to registration do not constitute partnership
Division 4--Powers of incorporated limited partnerships
Division 5--Liability and powers of limited partners
- 97 Limitation of liability of limited partners
- 98 Limited partner not to take part in the management of the incorporated limited partnership
- 99 Definitions, etc. applicable to section 98
- 100 Differences between partners
- 101 Change in partners
- 102 Change in status of partners
- 103 Liability in respect of conduct or acts outside the State
- 104 Recognised incorporated limited partnerships under corresponding laws
- 105 Effect of sections 103 and 104
Division 6--Winding up of incorporated limited partnership
- 106 Definition
- 107 Voluntary winding up
- 108 Winding up on Director's certificate
- 109 Review of certificate
- 110 Procedure for winding up on certificate
- 111 Distribution of assets on winding up required on Director's certificate
- 112 Application of Corporations Act to winding up
- 113 Director to be notified of winding up
- 114 Cancellation of incorporation
Division 7--Miscellaneous provisions
- 115 Execution of documents
- 116 Entitlement to make assumptions
- 117 Assumptions that can be made under section 116
- 118 Identification of incorporated limited partnerships
- 119 Registered office
- 120 Lodgment of certain documents with the Director
- 121 Service
- 122 Entry in Register constitutes notice
- 123 False and misleading statements
- 124 Duty to furnish information
- 125 Confidentiality
- 126 Offences by partnerships and partners
- 127 Delegation
- 128 Regulations