South Australian Numbered Acts

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PARTNERSHIP (VENTURE CAPITAL FUNDS) AMENDMENT ACT 2005 (NO 15 OF 2005) - SECT 58

58—Amendment of section 65—Limited partner not to take part in management of limited partnership

        (1)         Section 65(2)—delete "debts and obligations" and substitute:

liabilities

        (2)         Section 65—after subsection (5) insert:

        (6)         No implication is to be taken as arising from section 65A(3) that a limited partner in a limited partnership is to be regarded as taking part in the management of the business of the partnership merely because the limited partner or a person acting on behalf of the partner does any thing in connection with the conduct of that business that is not referred to that subsection.



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