Victorian Consolidated Legislation

Partnership Act 1958 - SECT 49

Definitions and application of Parts 1 and 2

49. Definitions and application of Parts 1 and 2



(1) In this Part-



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Director means Director within the meaning of the Fair Trading Act 1999;

general partner means a partner in a limited partnership who is not a limited
partner; liability includes any debt, obligation or liability of any kind,
wherever and however incurred;

limited partner means a partner in a limited partnership whose liability for
the liabilities of the partnership is limited in accordance with this Part;

limited partnership means a partnership formed in accordance with this Part;

Register means the Register of Limited Partnerships kept under this Part.

(2) If there is in force an agreement or arrangement with the Australian
Securities and Investments Commission of a kind referred to in section 11(8)
of the ASIC Act for the performance of the functions and exercise of the
powers of the Director by the Commission, a reference in this Part to the
Director is taken to be a reference to the Commission.

(3) Parts 1 and 2 of this Act apply to limited partnerships, except as
provided by this Part.

Division 2-Nature and formation of limited partnerships