2Minor amendments to clarify Parliament’s intent or reconcile inconsistencies Empowered by s 4(2)
Provision of this Act | Provision of Partnership Act 1908 | Nature of intended change | |
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Section 26 | Section 16(b) |
The provision relating to improper use of trust property for partnership purposes is amended to consistently refer to trust property as opposed to trust money. |
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Sections 32 and 33 (and section 7(2)) | Sections 20(2) and (3) and 39(3) |
The provisions relating to liability of a partner who leaves a firm have been amended by replacing the references to a “partner who retires” and “a retiring partner” (and similar references) with references to leaving the firm (in combination with a definition of leaves in section 7(2)). |
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Section 42(1)(a) | Section 26(2) | The provision relating to charging a partner’s interest for their separate debt is amended to omit a reference to an application by summons. |
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Section 42(3) | Section 26(2A) |
The provision relating to the power of the District Court to charge a partner’s interest for their separate judgment debt has been extended in section 42(3) to allow directions to be given if a judgment creditor applies for an order or a direction. |
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Sections 52 and 57 | Sections 27(i) and 34 | The provisions about access to, and inspection of, the partnership booksare amended to refer to the partnership’s records. In addition, the provision about keeping those records at the place or principal place of business of the partnership is amended to refer to the records being reasonably available at that place. |
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Section 66 | Section 35 | The provision about notice of dissolution is amended to refer to the date on which notice is received rather than the date of communication. | |
Section 70(2) | Section 36(2) |
The provision relating to how a partnership may be dissolved if a partner’s interest in property is charged is amended in section 70(2) to clarify that the decision by the other partners to dissolve the partnership must be unanimous. |
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Section 72(a) | Section 38 |
The provision relating to how a court may dissolve a partnership has been updated to remove a reference to being found to be mentally disordered |
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Section 73(1)(b)(i) | Section 38(a) |
The provision relating to an application to a court to dissolve a partnership has been updated to refer to a manager appointed under the Protection of Personal and Property Rights Act 1988, rather than to a committee. |
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Section 74 | Section 40 |
The provision relating to public notification of a partnership being dissolved has been updated and clarified to require the partners to consent to, and co-operate with, the notification process (rather than requiring concurrence). References to a “partner who retires” and “a retiring partner” have been updated to refer to leaving a firm (in combination with a definition of leaves in section 7(2)). |