86Partnership agreement

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86 Partnership agreement

(1) There must at all times be in force a written partnership agreement between the partners in an incorporated limited partnership.

(2) A partnership agreement also has effect as a contract between the incorporated limited partnership and each partner under which the partnership and each partner agree to observe and perform the agreement so far as it applies to them.

(3) Nothing in subsection (2) prevents an incorporated limited partnership itself executing a partnership agreement.

Division 3—Registration of incorporated limited partnerships

S. 87 inserted by No. 99/2003 s. 4.