New South Wales Consolidated Acts

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PARTNERSHIP ACT 1892 - SECT 66A

Limitation of liability of limited partners

66A Limitation of liability of limited partners

(1) A limited partner has no liability for the liabilities of the incorporated limited partnership or of a general partner.
(2) Nothing in subsection (1) or section 66C or 66D prevents--
(a) a contribution of capital or property made by a limited partner to the incorporated limited partnership being used, or
(b) an obligation of a limited partner to contribute capital or property to the incorporated limited partnership being enforced by any person to whom the obligation is owed,
in satisfaction of a liability of the partnership or of a general partner.
(3) This section is subject to section 67A (Limited partner not to take part in the management of incorporated limited partnership).



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