Victorian Consolidated Legislation

Partnership Act 1958 - SECT 70

Dissolution not available in certain cases

70. Dissolution not available in certain cases



(1) Subject to the terms of any agreement between the partners in a limited
partnership-

   (a)  a limited partner is not entitled to dissolve the partnership by
        notice; and

   (b)  the general partners or the other limited partners are not entitled to
        dissolve the partnership because a limited partner has allowed the
        limited partner's share of the partnership property to be charged for
        the limited partner's separate liabilities; and

   (c)  the death, bankruptcy or retirement or, in the case of a body
        corporate, the dissolution, of a limited partner does not dissolve the
        partnership.

(2) The fact that a limited partner in a limited partnership is declared to be
of unsound mind and incapable of managing his or her affairs is not a ground
for dissolution of the partnership by a court unless the share and interest of
the partner in the partnership cannot be otherwise ascertained or realised.