Version No. 084
Partnership Act 1958
No. 6330 of 1958
Version incorporating amendments as at
1 March 2020
TABLE OF PROVISIONS
Section Page
Part 1—Preliminary
1Short title and commencement
2Repeal
3Definitions
4Saving of rules of equity and common law
Part 2—Partnerships generally
Division 1—Nature of partnerships
5Definition of partnership
6Rules for determining existence of partnership
7Postponement of rights of person lending or selling in case of bankruptcy
8Meaning of firm
Division 2—Relationship of partners to persons dealing with them
9Power of partner to bind the firm
10Partners bound by acts on behalf of firm
11Partner using credit of firm for private purposes
12Effect of notice that firm will not be bound by acts of partner
13Liability of partners
14Liability of the firm for wrongs
15Misapplication of money or property
16Liability for wrongs joint and several
17Improper employment of trust property for partnership purposes
18Persons liable by holding out
19Admissions and representations of partners
20Notice to acting partner to be notice to the firm
21Liabilities of incoming and outgoing partners
22Revocation of continuing guaranty by change in firm
Division 3—Relationship between partners
23Variation by consent of terms of partnership
24Partnership property
25Property bought with partnership money
26Personal estate held as partnership property
27Procedure against partnership property for a partner's separate judgment debt
28Rules etc. of partners when not subject to special agreement
28ACredit law excluded matter
29Expulsion of partner
30Retirement from partnership at will
31Continuance of partnership on old terms
32Duty of partners to render accounts etc.
33Accountability of partners for private profits
34Duty of partner not to compete with firm
35Rights of assignee of share in partnership
Division 4—Dissolution of partnership
36Dissolution by expiration or notice
37Dissolution by death or bankruptcy or charge
38Dissolution by illegality of partnership
39Dissolution by the court
40Rights of persons dealing with firm against apparent members of firm
41Right of partners to notify dissolution
42Continuing authority of partners for purposes of winding up
43Rights of partners as to application of partnership property
44Apportionment of premium where partnership prematurely dissolved
45Rights where partnership dissolved for fraud or misrepresentation
46Share of profits made after dissolution
47Retiring or deceased partner's share to be a debt
48Rule for distribution of assets on final settlement of accounts
Part 3—Limited partnerships
Division 1—Preliminary
49Definitions and application of Parts 1 and 2
Division 2—Nature and formation of limited partnerships
50Composition of limited partnership
51Size of limited partnership
52How formed
Division 3—Registration of limited partnerships
54Application for registration
55Registration of limited partnership
56Changes in registered particulars
57Register of Limited Partnerships
58Certificates of registration etc.
Division 4—Limitation of liability of limited partners
60Liability of limited partner limited to amount shown in Register
61Change in liability of limited partner
62Change in status of partners
63Liability for business conducted outside the State
64Liability for limited partnerships formed under corresponding laws
64AEffect of sections 63 and 64
65Contribution towards discharge of debts etc.
66Limitation on liability may not be varied by partnership agreement etc.
Division 5—Other modifications of general law of partnership
67Limited partner not to take…