Associated entities: partnerships

In force

For the purposes of this Act, a partnership is associated with a person if, and only if, the person:

(a)

is a partner in the partnership;

(b)

is able to control, or to influence materially, the partnership’s activities or internal affairs;

(c)

is financially interested in the partnership’s success or failure or apparent success or failure;

(d)

is a creditor of the partnership;

(e)

is employed, or is engaged under a contract for services, by the partnership;

(f)

acts as agent for the partnership in any transaction or dealing; or

(g)

gives professional advice to the partnership.

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