Victorian Consolidated Legislation

Partnership Act 1958 - SECT 72

Registration of dissolution or cessation of limited partnership

72. Registration of dissolution or cessation of limited partnership





(1) If a limited partnership-

   (a)  is dissolved; or

   (b)  ceases to carry on business-

the general partners who were registered immediately before the dissolution or
cessation must, as soon as practicable, lodge with the Director a notice of
the dissolution or cessation, specifying the date on which it took effect.

(2) The notice must be in the form approved by the Director and contain the
particulars required by the regulations or the approved form of notice.

(3) The Director is required to record in the Register the fact of the
dissolution or cessation and the date on which it took effect.

(4) If subsections (1) and (2) are not complied with, each general partner in
the limited partnership concerned is guilty of an offence.

Penalty: 10 penalty units.