229Partnership ceases to exist

#### 229 Partnership ceases to exist (1) If a partnership ceases to exist, the persons who were partners immediately before the cessation must continue to satisfy any applicable obligations imposed by this Act. (2) Section 227 applies as if: (a) references to a partnership were to a partnership that ceases to exist; and (b) references to partners of the partnership were to the persons who were partners immediately before the cessation. (3) For the purpose of this section, a partnership ceases to exist if the dissolution of the partnership does not result in the creation of another partnership.