49
In forceComposition of limited partnership or incorporated limited partnership
Part 3Limited partnerships and incorporated limited partnerships
Division 2Nature and formation of limited partnerships and incorporated limited partnerships
49 Composition of limited partnership or incorporated limited partnership
(1)
A limited partnership or incorporated limited partnership must have—
(a)
at least one general partner; and
(b)
at least one limited partner.
(2)
A corporation may be a general partner or a limited partner in a limited partnership or incorporated limited partnership.
(3)
A partnership (including an external partnership) may be a general partner or a limited partner in a limited partnership or incorporated limited partnership.
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