Plain language law

New Zealand law explained for everyone

Partnership Law Act 2019

Schedule 1: Transitional, savings, and related provisions

You could also call this:

"Rules for when the new partnership law started and how it affects old partnerships"

Illustration for Partnership Law Act 2019

The Partnership Law Act 2019 is a law that applies to all partnerships. You are part of a partnership if you own a business with someone else. This law applies to every partnership, no matter when it was formed.

If a document mentions the old Partnership Act 1908, it now refers to the new Partnership Law Act 2019. A document can be a contract, a notice, or any other written agreement. The rules of equity and common law still apply to partnerships, except when they disagree with the new law.

The new law does not change things that happened before it started. If something happened before the new law began, the old law still applies to it. There are also special rules for when interest is paid to a partner who is leaving a partnership or to the estate of a partner who has passed away, which can be found in section 47 and section 79 of the Partnership Law Act 2019.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS206117.

Topics:
Business > Industry rulesMoney and consumer rights > Consumer protection
Previous

86: Amendments to other enactments, or

"Changes to other laws are listed in Schedule 4"

Next

Schedule 2: Minor amendments to clarify Parliament’s intent or reconcile inconsistencies, or

"Small changes to make the law clearer and easier to understand"

1Transitional, savings, and related provisions Empowered by s 6

1Provisions relating to this Act as enacted

1Act applies to all partnerships

  1. This Act applies to every partnership regardless of when it was formed.

2References to Partnership Act 1908

  1. A reference in a document to the Partnership Act 1908, or to a provision of that Act, must, unless the context otherwise requires, be treated as a reference to this Act or to a provision of this Act that, with or without modification, replaces, or that corresponds to, the repealed provision.

  2. In this clause, document—

  3. means any instrument, register, record, notice, or other document that is made, given, passed, or executed before the commencement of this Act; but
    1. does not include an enactment.

      3Saving for rules of equity and common law

      1. The rules of equity and of common law that apply to a partnership continue to apply except to the extent that they are inconsistent with the express provisions of this Act.

      Compare
      • 1908 No 139 s 3

      4Effect of repeal of Partnership Act 1908

      1. Nothing in this schedule limits sections 17 to 22 of the Interpretation Act 1999 (for example, the repeal of the Partnership Act 1908 by this Act does not affect the validity, invalidity, effect, or consequences of anything done or suffered, the previous operation of the Partnership Act 1908, or the bringing or completion of proceedings that relate to an existing right, interest, title, immunity, or duty).

      2Provisions relating to Regulatory Systems (Economic Development) Amendment Act 2025

      5Interpretation

      1. In this Part,—

        commencement date means the day on which Part 17 of the Regulatory Systems (Economic Development) Amendment Act 2025 comes into force

          former section 47 means section 47 as in force immediately before the commencement date

            former section 79 means section 79 as in force immediately before the commencement date.

            Notes
            • Schedule 1 clause 5: inserted, on , by section 155(a) of the Regulatory Systems (Economic Development) Amendment Act 2025 (2025 No 11).

            6When interest payable on extra payment or advance is calculated under former law

            1. This clause applies to the calculation of interest for the purposes of section 47.

            2. Former section 47 continues to apply to the calculation of interest for those purposes if the payment or advance referred to in that section is made before the commencement date.

            Notes
            • Schedule 1 clause 6: inserted, on , by section 155(a) of the Regulatory Systems (Economic Development) Amendment Act 2025 (2025 No 11).

            7When interest payable to outgoing partner or partner’s estate is calculated under former law

            1. This clause applies to the calculation of interest for the purposes of section 79.

            2. Former section 79 continues to apply to the calculation of interest for those purposes if the dissolution of the partnership referred to in that section occurs before the commencement date.

            Notes
            • Schedule 1 clause 7: inserted, on , by section 155(a) of the Regulatory Systems (Economic Development) Amendment Act 2025 (2025 No 11).