Limited Partnerships Act 2016

The Governor may, by order published in the Gazette, declare a law of another State, a Territory or another country or jurisdiction to be a corresponding law for the purposes of this Act in relation to either or both of the following —

limited partnerships;

incorporated limited partnerships.

The law of another country or jurisdiction (other than another State or a Territory) cannot be declared to be a corresponding law unless the Minister has certified to the Governor that the law provides for the limitation of liability of certain partners in certain partnerships or legal entities in the nature of incorporated limited partnerships.

The law of another State or a Territory cannot be declared to be a corresponding law unless the Minister has certified to the Governor that —

the provisions of the law are similar to the provisions of this Act; and

under that law the limitation of liability of limited partners in a limited partnership formed under this Act extends to any liability incurred in connection with the conduct of the partnership’s business in that State or Territory, or will so extend if this Act is declared to be a corresponding law under that law.

This section is additional to, and does not detract from, any rule of law under which recognition is or may be given to a limitation of liability of a partner in a partnership (including an external partnership).