51Composition of limited partnership or incorporated limited partnership

#### 51 Composition of limited partnership or incorporated limited partnership 51 Composition of limited partnership or incorporated limited partnership > > (1) A limited partnership or incorporated limited partnership must have— > > > > > (a) at least one general partner, and > > > > > (b) at least one limited partner. > > > (2) A corporation may be a general partner or a limited partner in a limited partnership or incorporated limited partnership. > > > (3) A partnership (including an external partnership) may be a general partner or a limited partner in a limited partnership or incorporated limited partnership. > > **s 51:** Ins 1991 No 48, Sch 1. Subst 2004 No 8, Sch 1 \[57\].