Victorian Current Acts

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Change in partners

    (1)     A limited partner may, with the consent of the general partners, assign the limited partner's share in the limited partnership. In that case the assignee is taken to be a limited partner in substitution for the assignor with all the rights and obligations of the assignor.

    (2)     A person may be admitted as a partner in a limited partnership without the necessity to obtain the consent of any limited partner.

    (3)     The provisions of this section may be varied by the partnership agreement or the consent of the partners.

Division 6—Dissolution and cessation of limited partnerships

S. 70 inserted by No. 43/1992 s. 5.

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