Victorian Current Acts

PARTNERSHIP ACT 1958 - SECT 49

    (1)     In this Part—

S. 49(1) def. of Commis-sioner repealed by No. 30/2003 s. 88(1)(a).

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S. 49(1) def. of debt repealed by No. 99/2003 s. 6(1)(a).

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S. 49(1) def. of Director inserted by No. 30/2003 s. 88(1)(b), amended by No. 21/2012 s. 239(Sch.  6 item 34.1).

Director means Director within the meaning of the Australian Consumer Law and Fair Trading Act 2012 ;

"general partner" means a partner in a limited partnership who is not a limited partner;

S. 49(1) def. of liability inserted by No. 99/2003 s. 6(1)(b).

"liability" includes any debt, obligation or liability of any kind, wherever and however incurred;

S. 49(1) def. of limited partner amended by No. 99/2003 s. 6(1)(c).

"limited partner" means a partner in a limited partnership whose liability for the liabilities of the partnership is limited in accordance with this Part;

"limited partnership" means a partnership formed in accordance with this Part;

"Register" means the Register of Limited Partnerships kept under this Part.

S. 49(2) substituted by No. 44/2001 s. 3(Sch. item 87.2), amended by No. 30/2003 s. 88(2).

    (2)     If there is in force an agreement or arrangement with the Australian Securities and Investments Commission of a kind referred to in section 11(8) of the ASIC Act for the performance of the functions and exercise of the powers of the Director by the Commission, a reference in this Part to the Director is taken to be a reference to the Commission.

    (3)     Parts 1 and 2 of this Act apply to limited partnerships, except as provided by this Part.

Division 2—Nature and formation of limited partnerships

S. 50 inserted by No. 43/1992 s. 5.