Partnership Act 1892 55 Vic (NSW)

Partnership Act 1892 No 12

An Act to declare and amend the law of Partnership.

Preamble WHEREAS it is expedient to declare and amend the law of Partnership— Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and Legislative Assembly of New South Wales in Parliament assembled, and by the authority of the same, as follows—

Part 1 Preliminary

1A Name of Act This Act may be cited as the Partnership Act 1892.

1B Interpretation (1) In this Act— business includes trade, occupation and profession. Court means the court having jurisdiction in the case concerned. general partner is defined in section 49. incorporated limited partnership is defined in section 49. limited partner is defined in section 49. limited partnership is defined in section 49.

Note— The Interpretation Act 1987 contains definitions and other provisions that affect the interpretation and application of this Act. (2) In this Act, a reference, in relation to an incorporated limited partnership, to the partnership or the firm is a reference to the incorporated limited partnership as a separate legal entity and not to the partners in that partnership. (3) Notes included in this Act do not form part of this Act.

1C Application of laws of partnership to incorporated limited partnerships Except as provided (whether expressly or by necessary implication) by this Act or any other enactment, the law relating to partnership does not apply to or in respect of an incorporated limited partnership, the partners in an incorporated limited partnership or to the relationship between an incorporated limited partnership and its partners.

Part 2 Partnerships generally

Division 1 Nature of partnership