Australian Capital Territory Current Acts

PARTNERSHIP ACT 1963 - SECT 82

    (1)     The winding-up of an incorporated limited partnership is declared to be an excluded matter for the purposes of the Corporations Act

, section 5F in relation to the Corporations Act

, part 5.7 (Winding up bodies other than companies).

Note     The Corporations Act

, s 5F provides that if a State or Territory law declares a matter to be an excluded matter for the purposes of that section in relation to all or part of the Corporations legislation of the Commonwealth, the provisions that are the subject of the declaration will not apply in relation to that matter in the State or Territory that made the declaration.

    (2)     The Corporations Act

, part 5.7 applies to an incorporated limited partnership as if the partnership were a Part 5.7 body, subject to the following changes:

        (a)     as if the words ‘or in the public interest' were inserted in section 583 (c) (ii) after the words ‘just and equitable';

        (b)     as if section 583 (d) did not form part of that section;

        (c)     any other necessary changes;

        (c)     any other changes prescribed under the regulations.

    (3)     The Australian Securities and Investments Commission may exercise a function given to it under part 5.7 as changed under subsection (2)—

        (a)     under an agreement or arrangement of the kind mentioned in the Australian Securities and Investments Commission Act 2001

(Cwlth), section 11 (8) or (9A) (b); and

        (b)     the commission is authorised to exercise that function under that Act, section 11.

    (4)     Unless a function under part 5.7 as changed under subsection (2) is given to the Australian Securities and Investments Commission as mentioned in subsection (3), that part applies as if a reference in it to the commission were a reference to the commissioner for fair trading.

    (5)     In this section:

Part 5.7 body —see the Corporations Act

, section 9.