Tasmanian Consolidated Acts

PARTNERSHIP ACT 1891

- Act 3 of 1891
- Royal Assent 13 August 1891

TABLE OF PROVISIONS

           Long Title

   PART 1 - Preliminary

   1.      Short title
   2.      Commencement
   3.       
   4.      Interpretation
   5.      Saving for rules of equity and common law

   PART 2 - Partnerships generally

           Division 1 - Nature of partnership

   6.      Definition of partnership
   7.      Rules for determining existence of partnership
   8.      Postponement of rights of person lending or selling in consideration of share of profits in case of insolvency of borrower or purchaser
   9.      Meaning of firm

           Division 2 - Relationships of partners to persons dealing with them

   10.     Power of partner to bind partnership
   11.     Partners bound by acts on behalf of firm or partnership
   12.     Partner using credit of firm or partnership for purpose not connected with business
   13.     Effect of notice that firm or partnership not bound by acts of partner
   14.     Liability of partners
   15.     Liability for wrongs of partners
   16.     Misapplication of money or property received for or in custody of firm
   17.     Liability for wrongs, joint and several
   18.     Improper employment of trust property for partnership purposes
   19.     Persons liable by holding out
   20.     Admissions and representations of partners
   21.     Notice to partner to be notice to firm
   22.     Liabilities of incoming and outgoing partners
   23.     Revocation of continuing guarantee by change in firm

           Division 3 - Relationship between partners

   24.     Variation by consent of terms of partnership
   25.     Partnership property
   25A.    Partnership property of incorporated limited partnership
   26.     Property bought with partnership money
   27.     Conversion into personal estate of land held as partnership property
   28.     Procedure against partnership property for partner's separate judgment debt
   29.     Rules as to interests and duties of partners subject to special agreement
   30.     Expulsion of partner
   31.     Retirement from partnership at will
   32.     Where partnership for term is continued over, continuance on old terms presumed
   33.     Duty of partners to render accounts, &c.
   34.     Accountability of partners for private profits
   35.     Duty of partner not to compete with firm
   36.     Rights of assignee of share in partnership

           Division 4 - Dissolution of partnership

   36A.    Application of Division
   37.     Dissolution by expiration or notice
   38.     Dissolution by bankruptcy, death, or charge
   39.     Dissolution by illegality of partnership
   40.     Dissolution by the Court
   41.     Rights of persons dealing with firm against apparent members of firm
   42.     Right of partner to notify dissolution
   43.     Continuing authority of partners for purposes of winding up
   44.     Rights of partners as to application of partnership property
   45.     Apportionment of premium where partnership prematurely dissolved
   46.     Rights where partnership dissolved for fraud or misrepresentation
   47.     Right of outgoing partner in certain cases to share profits made after dissolution
   48.     Retiring or deceased partner's share to be a debt
   49.     Rule for distribution of assets on final settlement of accounts

   PART 3 - Limited Partnerships and Incorporated Limited Partnerships

           Division 1 - Preliminary

   50.     Application of other provisions of this Act

           Division 2 - Nature and formation of limited partnership and incorporated limited partnership

   51.     Limited partnership or incorporated limited partnership is formed on registration
   52.     Composition of limited partnership or incorporated limited partnership
   53.     Size of limited partnership or incorporated limited partnership
   54.     Incorporated limited partnership is separate legal entity
   55.     Powers of incorporated limited partnership
   56.     Partnership agreement
   57.     Relationship of partners in incorporated limited partnership to others and between themselves

           Division 3 - Registration of limited partnerships and incorporated limited partnerships

   58.     Who may apply for registration?
   59.     Application for registration
   60.     Registration of limited partnership
   61.     Acts preparatory to registration do not constitute partnership
   62.     Changes in registered particulars
   63.     Register of Limited Partnerships and Incorporated Limited Partnerships
   64.     Certificates of registration
   65.     Business Names Act 1962 not to apply

           Division 4 - Limitation of liability of limited partners in limited partnership

   66.     Liability of limited partner limited to amount shown in Register
   67.     Change in liability of limited partner
   68.     Change in status of partners
   69.     Liability for business conducted outside State
   70.     Liability for limited partnerships formed under corresponding laws
   71.     Effect of sections 69 and 70
   72.     Contribution towards discharge of debts, &c.
   73.     Limitation on liability may not be varied by partnership agreement, &c.

           Division 5 - Limitation of liability of limited partners in incorporated limited partnership

   74.     Limitation of liability of limited partners
   75.     Change in status of partners
   76.     Liability in respect of conduct or acts or omissions outside State
   77.     Incorporated limited partnerships formed under corresponding laws
   78.     Effect of sections 76 and 77

           Division 6 - Other modifications of general law of partnership

   79.     Limited partner not to take part in management of limited partnership
   80.     Limited partner not to take part in management of incorporated limited partnership
   81.     Differences between partners
   82.     Change in partners

           Division 7 - Dissolution and cessation of limited partnerships and incorporated limited partnerships

   83.     Dissolution not available in certain cases
   84.     Cessation of limited partnerships
   85.     Registration of dissolution or cessation of limited partnership
   86.     Winding-up by general partners
   87.     Winding-up of incorporated limited partnerships

           Division 8 - Miscellaneous provisions

   88.     Execution of documents
   89.     Entitlement to make assumptions
   90.     Assumptions that may be made under section 89
   91.     Lodgment of certain documents with Director
   92.     Model limited partnership agreement
   93.     Identification of limited partnerships and incorporated limited partnerships
   94.     Registered office
   95.     Service
   96.     Entry in Register constitutes notice
   97.     Giving false or misleading information
   98.     Offences by partnerships
   99.     Duty to furnish information
   100.    Regulations
   101.    Relationship with Corporations legislation
           SCHEDULE 1