36Rights of assignee of share in partnership

36 Rights of assignee of share in partnership (1) An assignment by a partner in a firm of the partner’s share in the partnership, whether absolute or by way of mortgage or redeemable charge, does not, as against the other partners in the firm, entitle the assignee during the continuance of the partnership— (a) to interfere in the management or administration of the business or affairs of the firm; or (b) to require an account of the transactions of the firm; or (c) to inspect the books of the firm.

(2) An assignment referred to in subsection (1) entitles the assignee only to receive the share of profits of the firm to which the assigning partner would otherwise be entitled, and the assignee must accept the account of profits of the firm agreed to by the partners. (3) In case of a dissolution of a partnership after a partner has assigned the partner’s share in the partnership, whether as respects all the partners or as respects the assigning partner, the assignee is entitled to receive the share of the partnership property to which the assigning partner is entitled as between the partner and the other partners and, for the purpose of ascertaining that share, to an account as from the date of the dissolution. (4) This section does not apply in relation to an incorporated limited

Part 5 Dissolution of partnership and its consequences 36A Application of pt 5 This part does not apply in relation to an incorporated limited 37 Dissolution by expiration or otherwise (1) Subject to any agreement between the partners, a partnership is dissolved— (a) where the partnership was entered into for a fixed term—by the expiration of that term; or (b) where the partnership was entered into for a single adventure or undertaking—by the termination of that adventure or undertaking; or (c) where the partnership was entered into for an undefined time— by a partner giving notice to the other or others of the partner’s intention to dissolve the partnership. (2) A partnership which is dissolved by a partner giving the notice referred to in subsection (1) (c) is dissolved— (a) as from the date mentioned in the notice as the date of dissolution; or (b) if no date of dissolution is so mentioned—as from the date of the communication of the notice.