19
CurrentChange in liability of limited partner
Part 3Limited partnerships
Division 4Liability of partner
19 Change in liability of limited partner
(1)
A reduction in the liability of a limited partner caused by a reduction in the partner’s agreed contribution shown in the register does not extend to any liability of the limited partnership that arose before the reduction was recorded in the register.
(2)
An increase in the liability of a limited partner caused by an increase in the partner’s agreed contribution shown in the register extends to any liability of the limited partnership that arose before the increase was recorded in the register.
This Act’s bill:Explanatory memorandumSecond reading speech
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