Restrictions on size of partnerships and associations
115 Restrictions on size of partnerships and associations
A person must not participate in the formation of a partnership or association that:
has as an object gain for itself or for any of its members; and
has more than 20 members;
unless the partnership or association is incorporated or formed under an Australian law.
For the effect of a contravention of this section, see section 103.
The regulations may specify a higher number that is higher than the number specified in paragraph (1)(b) for the purposes of the application of that paragraph to a particular kind of partnership or association.
An offence based on subsection (1) is an offence of strict liability.
For strict liability, see section 6.1 of the Criminal Code.
This provision refers to the regulations (The regulations may specify
). Made under this Act:
- Corporations Regulations 2001 · under s 1364
115 more instruments made under this Act are listed on the Act’s overview.
This Act’s bill:Explanatory memorandumSecond reading speech
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