s 54
In forceIncorporated limited partnership is separate legal entity
Part 6Incorporated limited partnerships
Division 6.2Nature and formation of incorporated limited partnerships
54 Incorporated limited partnership is separate legal entity
(1)
An incorporated limited partnership—
(a)
is a corporation with legal personality separate from its partners and with perpetual succession; and
(b)
may have a common seal; and
(c)
may sue and be sued in its firm name.
(2)
The common seal of an incorporated limited partnership—
(a)
must be kept as the partnership directs; and
(b)
may only be used if the use is authorised by the partnership.
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