New South Wales Consolidated Acts

PARTNERSHIP ACT 1892 - SCHEDULE 2

SCHEDULE 2 – Savings, transitional and other provisions

(Section 83)

Part 1 - General

1 Regulations

(1) The regulations may contain provisions of a savings or transitional nature consequent on the enactment of the following Acts--

Partnership Amendment (Venture Capital Funds) Act 2004

Partnership Amendment (Venture Capital) Act 2007

(2) Any such provision may, if the regulations so provide, take effect from the date of assent to the Act concerned or a later date.

(3) To the extent to which any such provision takes effect from a date that is earlier than the date of its publication in the Gazette, the provision does not operate so as--

(a) to affect, in a manner prejudicial to any person (other than the State or an authority of the State), the rights of that person existing before the date of its publication, or

(b) to impose liabilities on any person (other than the State or an authority of the State) in respect of anything done or omitted to be done before the date of its publication.

Part 2 - Provisions consequent on enactment of Partnership Amendment (Venture Capital Funds) Act 2004

2 Saving of existing limited partnerships

(1) The Register of Limited Partnerships kept under section 57 as in force immediately before the commencement of this clause is taken on that commencement to be the Register of Limited and Incorporated Limited Partnerships required to be kept under the section as amended by the Partnership Amendment (Venture Capital Funds) Act 2004 .

(2) Subject to this Act, a partnership registered as a limited partnership immediately before the commencement of this clause is taken on that commencement to be registered as a limited partnership in the division of limited partnerships in the Register.

Part 3 - Provisions consequent on enactment of Partnership Amendment (Venture Capital) Act 2007

3 Applications for registration of ESVCLPs or proposed ESVCLPs made before amendments commence

(1) The provisions of this Act (as amended by the amending Act) extend to any application for the registration of an ESVCLP or proposed ESVCLP as an incorporated limited partnership that was made on or after the day on which the Bill for the amending Act was first introduced into Parliament.

(2) In this clause--

"amending Act" means the Partnership Amendment (Venture Capital) Act 2007 .

"ESVCLP" has the same meaning as in the Venture Capital Act 2002 of the Commonwealth.