Limited Partnerships Act 2008

General - Partners in limited partnership

20: Limited partner

You could also call this:

"What it means to be a limited partner in a business"

Illustration for Limited Partnerships Act 2008

If you are a limited partner in a limited partnership, you must not take part in the management of the partnership. You can choose to put money into the partnership, but you do not have to, unless the partnership agreement says you must. The partnership agreement is like a set of rules that you and the other partners agree to follow, and it can say what you can and cannot do as a limited partner.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1139161.


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Part 2General
Partners in limited partnership

20Limited partner

  1. A limited partner must not take part in the management of the limited partnership.

  2. Subject to the partnership agreement, a limited partner may, but does not have to, make a capital contribution to the limited partnership.