Commonwealth Numbered Acts

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Restrictions on size of partnerships and associations

(1) A person must not participate in the formation of a partnership or association that:

has as an object gain for itself or for any of its members; and

has more than 20 members;

unless the partnership or association is incorporated or formed under an Australian law.

Note: For the effect of a contravention of this section, see section 103.

(2) The regulations may specify a higher number that is higher than the number specified in paragraph (1)(b) for the purposes of the application of that paragraph to a particular kind of partnership or association.

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