New South Wales Consolidated Acts

PARTNERSHIP ACT 1892 - SECT 53B

53B Partnership agreement

(1) There must at all times be a written partnership agreement between the partners in an incorporated limited partnership.

(2) The interests of the partners in an incorporated limited partnership and their rights and duties in relation to the partnership are, subject to this Act, to be determined in accordance with the agreement.

(3) A partnership agreement also has effect as a contract between the incorporated limited partnership and each partner under which the partnership and each of the partners agree to observe and perform the agreement so far as it applies to them.