s. s. 4 5 4 Saving of rules of equity and common law No. 3745 s. 4. The rules of equity and of common law applicable to partnership shall continue in force except so far as they are inconsistent with the express provisions of this Act. _______________ Pt 2 (Heading) inserted by No. 43/1992 s. 4(b). Division 1—Nature of partnerships Heading substituted as Pt 2 Div. 1 (Heading) by No. 43/1992 s. 4(b). 5 Definition of partnership No. 3745 s. 5. (1) Partnership is the relation which subsists between S. 5(1) amended by persons carrying on a business in common with a No. 99/2003 s. 5(1). view of profit and includes an incorporated limited partnership within the meaning of Part 5. S. 5(1A) (1A) A reference in the following sections to a inserted by partnership includes a reference to a partnership No. 99/2003 formed in accordance with a law of another State, s. 5(2). a Territory or another country or jurisdiction, whether or not under that law the liability of any partner for the liabilities of the partnership is limited and whether or not under that law the partnership is incorporated or is otherwise a separate legal entity— (a) section 51(3); (b) section 54(2)(d), (e), (fa) and (h) as applying in cases where a partner is a partnership; (c) section 60(3);
No. 3745 s. 4. 4 Saving of rules of equity and common law s. 4 The rules of equity and of common law applicable to partnership shall continue in force except so far as they are inconsistent with the express provisions of this Act. _______________ Pt 2 (Heading) inserted by No. 43/1992 s. 4(b). Heading substituted as Pt 2 Div. 1 (Heading) by No. 43/1992 s. 4(b). Division 1—Nature of partnerships No. 3745 s. 5. 5 Definition of partnership s. 5 S. 5(1) amended by No. 99/2003 s. 5(1). (1) Partnership is the relation which subsists between persons carrying on a business in common with a view of profit and includes an incorporated limited partnership within the meaning of Part 5. S. 5(1A) inserted by No. 99/2003 s. 5(2). (1A) A reference in the following sections to a partnership includes a reference to a partnership formed in accordance with a law of another State, a Territory or another country or jurisdiction, whether or not under that law the liability of any partner for the liabilities of the partnership is limited and whether or not under that law the partnership is incorporated or is otherwise a separate legal entity— (a) section 51(3); (b) section 54(2)(d), (e), (fa) and (h) as applying in cases where a partner is a partnership; (c) section 60(3);
58-6330a077.docx