Liability under corresponding law

Current

(1)

In this section —

recognised incorporated limited partnership means an incorporated limited partnership formed under a corresponding law.

(2)

Subject to subsection (3), a partner in a recognised incorporated limited partnership is liable for a liability incurred by the partnership as a result of —

(a)

the conduct of the recognised incorporated limited partnership’s business in this State; or

(b)

the acts or omissions in this State of —

(i)

a partner in the partnership; or

(ii)

the partnership; or

(iii)

any officer, employee, agent or representative of the partnership or a general partner in the partnership.

(3)

Subsection (2) only applies in circumstances where the partner would be so liable under the corresponding law if the conduct or acts or omissions occurred in the place where the recognised incorporated limited partnership was formed.

This Act’s bill:Explanatory memorandum Second reading speech

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52 Liability under corresponding law