33Accountability of partners for private profits

33 Accountability of partners for private profits (1) A partner must account to the firm for a benefit derived by the partner, without the consent of the other partners, from: (a) a transaction concerning the partnership; or

Part 2 Partnerships generally Division 3 Relationship between partners Partnership Act 1997 17 (b) a use by the partner of the partnership property, name or business connection. (2) This section applies to transactions undertaken after a partnership is dissolved by the death of a partner and before the affairs of the partnership are completely wound up either by a surviving partner or by the representatives of the deceased partner. (3) This section does not apply to an incorporated limited partnership.