New South Wales Consolidated Acts

PARTNERSHIP ACT 1892 - SECT 64

64 Liability for limited partnerships formed under corresponding laws

(1) In this section--

"corresponding law" means a law of another State, a Territory or another country or jurisdiction that is declared by the regulations to be a corresponding law for the purposes of this Part.

"recognised limited partnership" means a partnership formed in accordance with a corresponding law.

(2) Any limitation under a corresponding law on the liability of a limited partner in a recognised limited partnership extends to any liability incurred in connection with the conduct of the partnership's business in this State.

(3) The law of another State or a Territory may not be declared to be a corresponding law unless the Minister has certified to the Governor--

(a) that the provisions of the law are similar to the provisions of this Part, and

(b) that under that law the limitation of liability of limited partners in a limited partnership formed in accordance with this Part extends to any liability incurred in connection with the conduct of the partnership's business in that State or Territory.

(4) The law of another country or jurisdiction may not be declared to be a corresponding law unless the Minister has certified to the Governor that the law provides for the limitation of liability for partners in certain partnerships.

(5) This section is additional to, and does not derogate from, any rule of law under which recognition is or may be given to a limitation of liability of a partner in a partnership (including an external partnership).