Treatment of partnerships
18 Treatment of partnerships
This Act and the regulations apply to a partnership as if it were a person, but with the changes set out in this section.
An obligation that would otherwise be imposed on the partnership by this Act or the regulations is imposed on each partner instead, but may be discharged by any of the partners.
If this Act or the regulations would otherwise permit something to be done by the partnership, the thing may be done by one or more of the partners on behalf of the partnership.
For the purposes of this Act and the regulations, a change in the composition of a partnership does not affect the continuity of the partnership.
This Act’s bill:Explanatory memorandumSecond reading speech
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