53APowers of incorporated limited partnership

53A Powers of incorporated limited partnership

53A Powers of incorporated limited partnership

(1) An incorporated limited partnership has the legal capacity and powers of an individual and also all the powers of a body corporate including (for example) the power, whether within or outside New South Wales or outside Australia—

(a) to carry on the business of the partnership, or

(b) to enter into contracts or otherwise acquire rights or liabilities, or

(c) to create, confer, vary or cancel interests in the partnership, or

(d) to acquire, hold and dispose of real or personal property or an interest (whether beneficial or legal) in real or personal property, or

(e) to appoint agents and attorneys, and act as agent for other persons, or

(f) to form, and participate in the formation of, companies or incorporated limited partnerships, or

(g) to participate in partnerships, trusts, joint ventures or other associations and other arrangements for the sharing of profits, or

(h) to do such other things as it is authorised to do by or under this Act.

(2) The powers of an incorporated limited partnership may be limited by the partnership agreement.

ss 53A–53C: Ins 2004 No 8, Sch 1 [60].