Partnership Law Act 2019

Relationship of partners to third persons and to each other - Relationship of partners to one another

43: Other partners may redeem or purchase interest

You could also call this:

"Partners can buy back or purchase a charged share in the business"

If a partner's share in the business is charged under section 42, the other partners have two options. You can either buy back the charged share, which is called redeeming the interest. Or, if the court orders the charged share to be sold, you can purchase it. These options are available to you at any time.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS206043.


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42: Court may charge partner’s interest for their separate judgment debt, or

"Court can use a partner's business money to pay their personal debt"


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44: Rules about interests and duties of partners, or

"Partners can agree on their own rules about what they own and how they should act"

Part 3Relationship of partners to third persons and to each other
Relationship of partners to one another

43Other partners may redeem or purchase interest

  1. If a partner’s interest is charged under section 42, the other partner or partners may, at any time,—

  2. redeem the interest; or
    1. purchase the interest if the court directs a sale of the interest.
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