If you are part of a limited partnership, you might wonder if the things you do are valid. You do things as a limited partnership, like transferring property. If the limited partnership does not have the power to do something, it does not make what you did invalid. You can find more information about this by looking at the link to related legislation. This means that even if the limited partnership was not supposed to do something, it is still considered valid.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1139154.
13: Partnership agreement may restrict capacity and powers, or
"A partnership agreement can set rules about what a limited partnership can and can't do."
15: Dealings between limited partnership and other persons, or
"Dealing with a Limited Partnership: What You Need to Know About Their Rules"
No act of a limited partnership and no transfer of property to or by a limited partnership is invalid merely because the limited partnership did not have the capacity, the right, or the power to do the act or to transfer or take a transfer of the property.
