South Australian Numbered Acts South Australian Numbered Acts4—Amendment of section 1B—Interpretation
(1) Section
1B—after the definition of "business" insert:
"Commission" means the Corporate Affairs Commission;
(2) Section
1B—after the definition of "Court" insert:
"external partnership" means a partnership (or legal entity however described
in the nature of a partnership) formed in accordance with a law of another
State, a Territory or another country or jurisdiction, whether or not under
that law the liability of any partner for the liabilities of the partnership
(or entity) is limited and whether or not under that law the partnership (or
entity) is incorporated or is otherwise a separate legal entity;
"firm-name" of—
(a) an
incorporated limited partnership—means the name of the partnership
recorded in the Register; and
(b) of
an external partnership—means the name under which, in accordance with
the law of the place in which it is formed, the partnership carries on the
business of the partnership;
"general partner"—
(a) in a
limited partnership—means a partner in the limited partnership who is
not a limited partner; and
(b) in
an incorporated limited partnership—means a person or partnership
(including an external partnership) admitted as a partner in the incorporated
limited partnership in accordance with the partnership agreement and who is
not a limited partner;
"incorporated limited partnership" means an incorporated limited partnership
formed in accordance with section 48(2);
"liability" includes any debt, obligation or liability of any kind, wherever
and however incurred;
"limited partner"—
(a) in a
limited partnership—means a partner in the limited partnership whose
liability for the liabilities of the partnership is limited in accordance with
Part 3; and
(b) in
an incorporated limited partnership—means a person or partnership
(including an external partnership) admitted and designated as a limited
partner in the incorporated limited partnership in accordance with the
partnership agreement;
"limited partnership" means a limited partnership formed in accordance with
section 48(1);
"partner" in a limited partnership or incorporated limited partnership means a
general partner or a limited partner;
"Register" means the Register of Limited Partnerships and Incorporated
Limited Partnerships kept under Part 3;
"registered particulars" means particulars recorded in the Register.
(3) Section
1B—after its present contents as amended by this section (now to be
designated as subsection (1)) insert:
(2) In this Act, a
reference, in relation to an incorporated limited partnership, to the
partnership or the firm is a reference to the incorporated limited partnership
as a separate legal entity and not to the partners in that partnership.