Northern Territory Consolidated Acts

PARTNERSHIP ACT 1997

TABLE OF PROVISIONS

           Long Title

   PART 1--PRELIMINARY

   1.      Short title  
   2.      Commencement  
   3.      Definitions  
   4.      Equity and common law  

   PART 2--PARTNERSHIPS GENERALLY

           Division 1--Nature of Partnerships

   5.      Partnership  
   6.      Determining existence of partnership other than incorporated limited partnership  
   7.      Postponement of rights of person lending or selling in case of bankruptcy  
   8.      Firm and firm name  

           Division 2--Relationship of partners to persons dealing with them

   9.      Partner's power to bind firm  
   10.     Partner acting for firm  
   11.     Partner using firm's credit  
   12.     Effect of notice of agreement that firm not bound  
   13.     Liability of partner  
   14.     Liability for loss, injury or penalty  
   15.     Liability for misapplication of property  
   16.     Joint and several liabilities for wrongs  
   17.     Misuse of trust property  
   18.     Representation as partner  
   19.     Representations about firm's affairs  
   20.     Notice to acting partner is notice to firm  
   21.     Liabilities of incoming and outgoing partners  
   22.     Revocation of continuing guarantee  

           Division 3--Relationship between partners

   23.     Variation by consent of terms of partnership  
   24.     Partnership property  
   25.     Property bought with partnership money  
   26.     Personal estate held as partnership property  
   27.     Procedure against partnership property for partner's separate judgment debt  
   28.     Rules about interests and duties of partners  
   29.     Expulsion of partner  
   30.     Retirement from partnership  
   31.     Continuance of partnership on old terms  
   32.     Duty of partner to give information  
   33.     Accountability of partners for private profits  
   34.     Duty of partner not to compete with firm  
   35.     Rights of assignee of share in partnership  

           Division 4--Dissolution of partnership

   35A.    Application  
   36.     Dissolution by expiration or notice  
   37.     Dissolution by death, bankruptcy or charge  
   38.     Dissolution by illegality of partnership  
   39.     Dissolution by Court  
   40.     Rights of persons dealing with firm against apparent members of firm  
   41.     Right of partners to notify dissolution  
   42.     Continuing authority of partners for purposes of winding up  
   43.     Rights of partners as to application of partnership property  
   44.     Apportionment of premium where partnership prematurely dissolved  
   45.     Rights where partnership dissolved for fraud or misrepresentation  
   46.     Share of profits made after dissolution  
   47.     Retiring or deceased partner's share to be debt  
   48.     Rule for distribution of assets on final settlement of accounts  

   PART 3--INCORPORATED LIMITED PARTNERSHIPS

           Division 1--Preliminary matters

   49.     Object  
   50.     Application  

           Division 2--Formation of incorporated limited partnerships

   51.     Formation  
   52.     Nature of incorporated limited partnership  
   53.     Requirements about partners  
   54.     Partnership agreement  
   55.     Who may apply for registration  
   56.     Application for registration  
   57.     Registration  
   58.     Register  
   59.     Changes of registered information  
   60.     Certificate of registration  
   62.     Preparatory acts do not create partnership  

           Division 3--Powers and liabilities of partnership

   63.     Powers of partnership  
   64.     Relationship between partners  
   65.     Liability of limited partners  
   66.     Limited partners not to take part in management  
   67.     Circumstances in which limited partner not regarded as taking part in management  
   68.     Associates  
   69.     Difference between partners  
   70.     Change in partners  
   71.     Change in status of partners  
   72.     Liability arising outside Territory  
   73.     Corresponding laws  
   74.     Partnership formed under corresponding laws  
   75.     Effect of sections 72 and 74  

           Division 4--Winding up

   76.     Assets  
   77.     Voluntary winding up  
   78.     Winding up on certificate  
   79.     Review of certificate  
   80.     Procedure for winding up on certificate  
   81.     Distribution of assets  
   82.     Application of Corporations Act 2001  
   83.     Obligation to inform Commissioner  
   84.     Cancellation of registration  

           Division 5--Other matters

   85.     Seal and execution of documents  
   86.     Entitlement to make assumptions  
   87.     Assumptions  
   88.     Identification of partnership  
   89.     Registered office  
   90.     Display of certificate of registration  
   91.     Obligations to notify Commissioner  
   92.     Service of documents  
   93.     Entry in register constitutes notice  
   94.     Commissioner may require provision of information  
   95.     Offences by partnerships  
   96.     Relationship with Corporations legislation  

   PART 4--ADMINISTRATION

   97.     Secrecy  
   98.     Approved forms  
   99.     Regulations  

   PART 5--TRANSITIONAL MATTERS FOR PARTNERSHIP ACT 1997

   100.    Repeal  
   101.    Savings  
           ENDNOTES