Victorian Consolidated Legislation

Partnership Act 1958 - SECT 35

Rights of assignee of share in partnership

35. Rights of assignee of share in partnership



(1) An assignment by any partner of his share in the partnership either
absolute or by way of mortgage or redeemable charge does not as against the
other partners entitle the assignee during the continuance of the partnership
to interfere in the management or administration of the partnership business
or affairs or to require any accounts of the partnership transactions or to
inspect the partnership books but entitles the assignee only to receive the
share of profits to which the assigning partner would otherwise be entitled
and the assignee must accept the account of profits agreed to by the partners.

(2) In the case of a dissolution of the partnership whether as respects all
the partners or as respects the assigning partner the assignee is entitled to
receive the share of the partnership assets to which the assigning partner is
entitled as between himself and the other partners and for the purpose of
ascertaining that share to an account as from the date of the dissolution.

Division 4-Dissolution of partnership