1Definition of partnership

#### 1 Definition of partnership 1 Definition of partnership > > (1) Partnership is the relation which exists between persons carrying on a business in common with a view of profit and includes an incorporated limited partnership. > > > (2) But the relation between members of any company or association which is— > > > > > (a) incorporated under the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth, or > > > > > (b) Formed or incorporated by or in pursuance of any other Act of Parliament or Letters Patent or Royal Charter, > > > > is not a Partnership within the meaning of this Act. > > **s 1:** Am 1991 No 48, Sch 2 (3); 2001 No 34, Sch 4.43 \[1\]; 2004 No 8, Sch 1 \[4\].