Section 8

Despite section 32 of the Partnership Act 1890, a limited partner is not entitled to dissolve the partnership by notice.

Despite section 33(1) of the Partnership Act 1890, a limited partnership is not dissolved by the death, dissolution, bankruptcy or liquidation of a limited partner.

Despite section 33(2) of the Partnership Act 1890, the other partners are not entitled to dissolve the partnership by reason of any limited partner suffering the partner’s share of the partnership property to be charged for the partner’s separate debt.

Subsections (1), (2) and (3) apply subject to any agreement expressed or implied between the partners of a limited partnership.

The mental incapacity of a limited partner is not a ground for dissolution of the partnership by the court under section 35 of the Partnership Act 1890 unless the mentally incapacitated person’s share cannot be otherwise ascertained and realised.

In the event of the dissolution of a limited partnership, its affairs must be wound up by the general partners unless the court otherwise orders.