Partnership Act 1891 (Tas)

Partnership Act 1891

An Act to declare and amend the law of partnership [Royal Assent 13 August 1891]

Be it enacted by His Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:

PART 1 - Preliminary

1. Short title This Act may be cited as the Partnership Act 1891 .

2. Commencement This Act shall come into operation on the first day of January 1892.

3. . . . . . . . .

4. Interpretation (1) In this Act, unless the contrary intention appears – business includes every trade, occupation or profession; Court means the Supreme Court, or a judge sitting in chambers or otherwise; Director means the Director of Consumer Affairs and Fair Trading holding office under section 9 of the Consumer Affairs Act 1988 and includes any person holding that office in an acting capacity; external partnership means a partnership (or legal entity, however described, in the nature of a partnership) formed in accordance with a law of another State, a Territory or another country or jurisdiction, whether or not under that law the liability of any partner for the liabilities of the partnership (or entity) is limited and whether or not under that law the partnership (or entity) is incorporated or is otherwise a separate legal entity; firm means a group of persons who have entered into partnership with one another; firm-name means – (a) in the case of a partnership, the name under which the business of the partnership is carried on; and (b) in the case of an external partnership, the name under which, in accordance with the law of the place in which it is formed, the partnership carries on the business of the partnership; and (c) in the case of a limited partnership or an incorporated limited partnership, the name of the partnership recorded in the Register; general partner means – (a) in the case of a limited partnership, a partner in the limited partnership who is not a limited partner; and (b) in the case of an incorporated limited partnership, a person or partnership (including an external partnership) who is admitted as a partner in the incorporated limited partnership in accordance with the partnership agreement and who is not a limited partner; incorporated limited partnership means an incorporated limited partnership registered in accordance with section 60 ; liability includes any debt, obligation or other liability of any kind, wherever and however incurred; limited partner means – (a) in the case of a limited partnership, a partner in the limited partnership whose liability for the liabilities of the partnership is limited in accordance with Part 3 ; and (b) in the case of an incorporated limited partnership, a person or partnership (including an external partnership) admitted and designated as a limited partner in the incorporated limited partnership in accordance with the partnership agreement; limited partnership means a partnership registered in accordance with section 60 ; partner in a limited partnership or an incorporated limited partnership means a general partner or a limited partner; partnership means a partnership within the meaning of section 6 ; Register means the Register of Limited Partnerships and Incorporated Limited Partnerships kept under this Act; registered particulars means particulars recorded in the Register under section 60(6) ; spouse includes the person with whom a person is, or was at the time of his or her death, in a significant relationship, within the meaning of the Relationships Act 2003 . (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.