Limited Partnerships Act 2008

General - Agency

48: Notice to general partner is notice to limited partnership

You could also call this:

"Telling a general partner something is the same as telling the whole partnership."

Illustration for Limited Partnerships Act 2008

If you give notice to a general partner about something to do with the limited partnership, it is like giving notice to the whole limited partnership. This means the limited partnership is officially told about the matter. However, this does not apply if the general partner is involved in a fraud against the limited partnership. You can find similar information in the link to legislation.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1139199.


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47: General partner is agent of limited partnership, or

"General partner makes decisions for the limited partnership"


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49: General partner’s fiduciary obligations, or

"General partners must be honest and fair with their partnership and share profits"

Part 2General
Agency

48Notice to general partner is notice to limited partnership

  1. Notice to any general partner of any matter relating to the affairs of the limited partnership operates as notice to the limited partnership, except in the case of a fraud on the limited partnership committed by or with the consent of that general partner.

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