Partnership Act 1963

An incorporated limited partnership has the legal capacity and powers of an individual and also all the powers of a corporation, including, for example, power (whether within or outside the ACT or outside Australia) to—

carry on the partnership’s business; and

enter into contracts or otherwise acquire rights or liabilities; and

create, confer, vary or cancel interests in the partnership; and

acquire, hold and dispose of property; and

appoint agents and attorneys, and act as agent for other people; and

form, and participate in the formation of, companies or incorporated limited partnerships; and

participate in partnerships (including external partnerships), trusts, joint ventures, other associations and other arrangements for the sharing of profits; and

do anything else it is authorised to do under this part or the partnership agreement.

The powers of an incorporated limited partnership may be limited by the partnership agreement.