South Australian Numbered Acts South Australian Numbered Acts14—Amendment of section 10—Liability of firm for wrongs
(1)
Section 10(1)—before "acting in the ordinary course of the business of
the firm" insert:
in a firm other than an incorporated limited partnership
(2)
Section 10(2)—after "a partner" insert:
in a firm other than an incorporated limited partnership
(3)
Section 10—after subsection (2) insert:
(3) Subject to
subsection (4), where by any wrongful act or omission of any general
partner in an incorporated limited partnership acting in the ordinary course
of the business of the incorporated limited partnership, or with its
authority, loss or injury is caused to any person not being a partner in the
incorporated limited partnership, or any penalty is incurred, the incorporated
limited partnership is liable in respect of that loss or injury to the same
extent as the general partner so acting or omitting to act.
(4) For the purposes
of subsection (3), a general partner in an incorporated
limited partnership who commits a wrongful act or omission as a director of a
body corporate, within the meaning of the Corporations Act 2001 of the
Commonwealth, is not to be taken to be acting in the ordinary course of
business of the incorporated limited partnership or with its authority only
because of any one or more of the following:
(a) the
general partner obtained the agreement or authority of the incorporated
limited partnership to be appointed or to act as a director of the body
corporate;
(b)
remuneration that the general partner receives for acting as a director of the
body corporate forms part of the income of the incorporated
limited partnership;
(c) any
other general partner in the incorporated limited partnership is also a
director of that or any other body corporate.
(4)
Section 10(3)—redesignate current subsection (3) as subsection (5)