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Limited Partnerships Act 2008
General
Distributions to partners
39: Meaning of distribution

Part 1:
Preliminary provisions

3Purpose of Act 4Interpretation 5Act binds the Crown

Part 2:
General

Part 3:
Overseas limited partnerships

104Overseas limited partnership must register 105Meaning of carrying on business 106Validity of transactions not affected 107Application for registration 108Registration of overseas limited partnership 109Use of name by overseas limited partnership 110Notification of changes relating to overseas limited partnership 111Rectification or correction of name or address of person authorised to accept service 112Annual return of overseas limited partnership 113Overseas limited partnership ceasing to carry on business in New Zealand 114Liquidation of overseas limited partnership

Part 4:
Miscellaneous

115Confidentiality of limited partner information 116Regulations 116AValidation of fees used to recover costs of other Companies Office registers, etc 117Part 2 of Partnership Act 1908 repealed 118Orders revoked 119Companies Act 1993 amended 120Privacy Act 1993 amended 121Other consequential amendments 122Transitional provision for special partnerships

Schedule 1:
Activities that do not constitute taking part in management of limited partnership

Schedule 2:
Information to be contained in annual return

Limited Partnerships Act 2008

General - Distributions to partners

39: Meaning of distribution

You could also call this:

"What 'distribution' means: when a limited partnership gives money, property, or discounts to its partners"

Illustration for Limited Partnerships Act 2008

When you are looking at the Limited Partnerships Act 2008, the term distribution has a specific meaning. In this Act, a distribution refers to when a limited partnership gives money or property to a partner, either directly or indirectly. This can also include when the partnership owes a partner money.

A distribution can also happen when a partner gets a discount on goods and services from the limited partnership. You should understand that this term applies to all situations, unless the context clearly indicates otherwise. The term distribution is used to describe these specific actions in the Limited Partnerships Act 2008.

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This page was last updated on 30 August 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1139188.

Topics:

Business > Starting a business

38: Partnership interest, or

"What you own and are responsible for as a partner in a business"

40: Distribution must be authorised, or

"Partners must agree in writing before giving out money or assets."

Part 2General
Distributions to partners

39Meaning of distribution

In this Act, unless the context otherwise requires, distribution—
means—
1. the direct or indirect transfer of money or property of the limited partnership to or for the benefit of a partner; or
2. the incurring of a debt to or for the benefit of a partner; and
includes a discount to a partner on goods and services provided by the limited partnership.