Queensland Numbered Acts Queensland Numbered Acts(1) Section 15, after 'Every partner'--
insert--
'in a firm, other than an incorporated limited partnership,'.
(2) Section 15, 'while he or she is a partner therein'--
omit, insert--
', while he or she is a partner in the firm,'.
(3) Section 15--
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'(2) Every general partner in an incorporated limited partnership is liable jointly with the other general partners in the incorporated limited partnership and also severally for everything for which the incorporated limited partnership, while the general partner is a general partner in the incorporated limited partnership, becomes liable under section 13(3) or 14(2).3
'(3) Despite subsection (2), a general partner in an incorporated limited partnership is only liable for any liability of the incorporated limited partnership referred to in the subsection--
(a) to the extent the incorporated limited partnership is unable to satisfy the liability; or
(b) to a greater extent provided by the partnership agreement.'.