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COMMONWEALTHAct
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s 100ZH

Application to partnerships

In force
Volume 1Parts 1 to 10A (sections 1 to 239W)
Part 5AWater markets decisions, insider trading and market manipulation

100ZH Application to partnerships

(1)

This Part, and the Water Markets Intermediaries Code, apply to a partnership as if the partnership were a person. However, obligations that would be imposed on the partnership are imposed instead on each partner, but may be discharged by any of the partners.

(2)

If, apart from this subsection, a partnership would contravene a civil penalty provision, the contravention is taken to have been committed by each partner.

(3)

A partner does not contravene a civil penalty provision because of subsection (2), if the partner:

(a)

does not know of the circumstances that constitute the contravention of the provision concerned; or

(b)

knows of those circumstances but takes all reasonable steps to correct the contravention as soon as possible after the partner becomes aware of those circumstances.

Note:

A defendant bears an evidential burden in relation to the matters in this subsection: see section 154E.

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