Commonwealth Consolidated Acts

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NATIONAL VOCATIONAL EDUCATION AND TRAINING REGULATOR ACT 2011 - SECT 229

Partnership ceases to exist

  (1)   If a partnership ceases to exist, the persons who were partners immediately before the cessation must continue to satisfy any applicable obligations imposed by this Act.

  (2)   Section   227 applies as if:

  (a)   references to a partnership were to a partnership that ceases to exist; and

  (b)   references to partners of the partnership were to the persons who were partners immediately before the cessation.

  (3)   For the purpose of this section, a partnership ceases to exist if the dissolution of the partnership does not result in the creation of another partnership.


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