New South Wales Consolidated Acts
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PARTNERSHIP ACT 1892 - SECT 53A
Powers of incorporated limited partnership
(1) An incorporated limited partnership has the legal capacity and powers of
an individual and also all the powers of a body corporate including (for
example) the power, whether within or outside New South Wales or outside
Australia-- (a) to carry on the business of the partnership, or
(b) to enter
into contracts or otherwise acquire rights or liabilities, or
(c) to create,
confer, vary or cancel interests in the partnership, or
(d) to acquire, hold
and dispose of real or personal property or an interest (whether beneficial or
legal) in real or personal property, or
(e) to appoint agents and attorneys,
and act as agent for other persons, or
(f) to form, and participate in the
formation of, companies or incorporated limited partnerships, or
(g) to
participate in partnerships, trusts, joint ventures or other associations and
other arrangements for the sharing of profits, or
(h) to do such other things
as it is authorised to do by or under this Act.
(2) The powers of an
incorporated limited partnership may be limited by the partnership agreement.
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