s. 50 means a partner in a limited general partner partnership who is not a limited partner; S. 49(1) def. of includes any debt, obligation or liability liability liability of any kind, wherever and however incurred; inserted by No. 99/2003 s. 6(1)(b). S. 49(1) def. of means a partner in a limited limited partner limited partner partnership whose liability for the liabilities amended by No. 99/2003 of the partnership is limited in accordance s. 6(1)(c). with this Part; means a partnership formed in limited partnership accordance with this Part; means the Register of Limited Register Partnerships kept under this Part. (2) If there is in force an agreement or arrangement S. 49(2) substituted by with the Australian Securities and Investments No. 44/2001 Commission of a kind referred to in section 11(8) s. 3(Sch. item 87.2), of the ASIC Act for the performance of the amended by functions and exercise of the powers of the No. 30/2003 s. 88(2). 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 50 Composition of limited partnership S. 50 inserted by (1) A limited partnership is a partnership consisting No. 43/1992 of— s. 5. (a) at least one general partner; and (b) at least one limited partner. (2) A body corporate may be a general partner or a limited partner.
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. 50 Composition of limited partnership s. 50 (1) A limited partnership is a partnership consisting of— (a) at least one general partner; and (b) at least one limited partner. (2) A body corporate may be a general partner or a limited partner.
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