Western Australian Current Acts

DUTIES ACT 2008 - SECT 75

75 .         When person acquires partnership interest

        (1)         A person acquires a partnership interest if a partnership is formed or the person’s partnership interest increases.

        (2)         Without limiting subsection (1) —

            (a)         a partnership may be formed on —

                  (i)         a change in the membership of a partnership; or

                  (ii)         the merger of 2 or more partnerships;

                or

            (b)         a person’s partnership interest may increase —

                  (i)         under the terms of a partnership agreement; or

                  (ii)         on the retirement of a partner from a partnership; or

                  (iii)         on a change in the terms of a partnership agreement effecting a change in the interests of the partners.