Partnership Act 1997

An incorporated limited partnership has:

the legal capacity and powers of a natural person; and

the powers of a corporation.

Without limiting subsection (1), the partnership has the powers to:

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

carry on its business; and

enter into contracts or otherwise acquire rights or liabilities;

acquire, hold or dispose of property; and

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

form, and participate in the formation of, corporations; and

participate in 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 partnership agreement may limit the partnership's powers.