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\qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid5198987 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 COOK ISLANDS
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 INTERNATIONAL PARTNERSHIPS }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 1984

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 ANALYSIS
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Title
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15294414 {\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 PART I
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 PRELIMINARY
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 1. Short Title
\par 2. Interpretation
\par 3. Inconsistent law not to affect international or limited partnerships
\par 4. Application of this Act
\par 5. Permitted business
\par 6. Registrar of partnerships
\par 7. Registers
\par 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15294414 {\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 PART II
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 INTERNATIONAL PARTNERSHIPS
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 
\par 8. International Partnerships
\par 9. Application for registration 
\par 10. Registration
\par 11. Annual certificates of registration
\par 12. Registration of partnership agreement
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11281118\charrsid8463721 13. Registered office}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 
\par 14. Proceedings by or against international partnerships
\par 15. Power of partner to bind the firm
\par 16. Partners bound by acts on behalf of firm
\par 17. Partner using credit of firm for private purposes
\par 18. Effect of notice that firm not bound by acts of partner
\par 19. Liability of partners
\par 2}{\fs24\lang2057\langfe1033\langnp2057\insrsid11281118\charrsid8463721 0. Liability of firm for wrongs}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 
\par 21. Misapplication of money received for firm
\par 22. Joint and several liability
\par 23 Improper employment of trust property for partnership purposes
\par 24. Persons liable for "holding out"
\par 25. Admissions and representations of partners
\par 26. Notice to acting partner to be notice to firm
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8655053\charrsid8463721 27. Liabilities of incoming and outgoing partners
\par 28. Revocation of continuing guarantee by change in firm}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8655053\charrsid8463721 29. Variation by consent of terms of partnership}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8655053\charrsid8463721 30. Partnership property
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 31.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Propert}{
\fs24\lang2057\langfe1033\langnp2057\insrsid11281118\charrsid8463721 y bought with partnership money}{\fs24\lang2057\langfe1033\langnp2057\insrsid8655053\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 32.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Conversion into personal estate of la}{
\fs24\lang2057\langfe1033\langnp2057\insrsid11281118\charrsid8463721 nd held as partnership property}{\fs24\lang2057\langfe1033\langnp2057\insrsid8655053\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 33.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8655053\charrsid8463721 Procedure against partner}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ship property
\par 34.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Rules as to }{\fs24\lang2057\langfe1033\langnp2057\insrsid11281118\charrsid8463721 
interest and duties of partners}{\fs24\lang2057\langfe1033\langnp2057\insrsid8655053\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 35.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Expulsion of partner
\par 36.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Retirement from partnership at will
\par 37.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Conditions of partne}{\fs24\lang2057\langfe1033\langnp2057\insrsid11281118\charrsid8463721 
rship where term continued over}{\fs24\lang2057\langfe1033\langnp2057\insrsid8655053\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 38.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid11281118\charrsid8463721 Duty to render accounts}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8655053\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 39.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Partners to account for private profits

\par 40.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Rights of assignee of share of partnership
\par 41.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Dissolution be expiration of notice
\par 42.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Dissolution by death, bankruptcy or charge
\par 43.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Dissolution by illegality of partnership
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8655053\charrsid8463721 44. Dissolution by the Court
\par 45. Rights of persons dealing with firm against apparent members
\par 46. Continuing authority of partners for purposes of }{\fs24\lang2057\langfe1033\langnp2057\insrsid11281118\charrsid8463721 winding-up}{\fs24\lang2057\langfe1033\langnp2057\insrsid8655053\charrsid8463721 
\par 47.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3018143\charrsid8463721  Rights of partnership as to application of partnership properly}{\fs24\lang2057\langfe1033\langnp2057\insrsid8655053\charrsid8463721 
\par 48.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3018143\charrsid8463721  Rights where partnership dissolved for fraud or misrepresentation}{\fs24\lang2057\langfe1033\langnp2057\insrsid8655053\charrsid8463721 
\par 49. Rights of outgoing partner to share profits made after dissolution
\par 50. Former partners share to be a debt
\par 51. Distribution of assets on final settlement of accounts
\par 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15294414 {\fs24\lang2057\langfe1033\langnp2057\insrsid3018143\charrsid8463721 PART III
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3018143 {\fs24\lang2057\langfe1033\langnp2057\insrsid3018143\charrsid8463721 LIMITED PARTNERSHIPS
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid3018143\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 52. Part II not to affect limited partnership}{\fs24\lang2057\langfe1033\langnp2057\insrsid3018143\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 53. Limited partnership
\par 54. Application for registration
\par 55.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721  Registration}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par 56.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721  Annual certificates of registration}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par 57.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721  Registration of partnership agreement}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par 58.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721  Certificate to be signed by general partners}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par 59.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721  Partners to be liable as general partners for false statements in certificate}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par 60.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721  Registered office}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par 61.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721  When limited partner deemed liable}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par 62.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721  General and limited partners and their liabilities}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par 63.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721  Capital stock not to be withdrawn}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par 64.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721  When limited partners liable to refund capital withdrawn}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par 65. Suits to be }{\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 by or against general partners}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par 66. Voluntary dissolution
\par 67. Dissolution by Court
\par 68. Cases has specifically provided for
\par 69. Accounting
\par 70. Frauds by partners
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid3018143\charrsid8463721 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15294414 {\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 PART IV
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8334968 {\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 APPLICATION OF OTHER ACTS
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8334968 {\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 
\par 71. Interpretation
\par 72. Application of other Acts to partners}{\fs24\lang2057\langfe1033\langnp2057\insrsid11281118\charrsid8463721 hips}{\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 
\par 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15294414 {\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 PART V
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8334968 {\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 MISCELLANEOUS
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8334968 {\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 
\par 73. Resident beneficiaries
\par 74. Secrecy
\par 75. Translations
\par 76. No action to lie against certain persons
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11281118\charrsid8463721 77. Power of }{\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 exemption
\par 78. Prohibitions by Minister
\par 79. Penalties
\par 80. Regulations
\par 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8334968 {\fs24\lang2057\langfe1033\langnp2057\insrsid8463721 --------------------------------------}{\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8334968 {\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8334968 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 1984, No. 13
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8334968 {\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8463721 {\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 An Act to provide for }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 
International }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Partnerships}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721  and Limited Partnership}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid7275546\charrsid8463721 s}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid600257 {\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 
\par }\pard \qr \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12525885 {\fs24\lang2057\langfe1033\langnp2057\insrsid12525885\charrsid8463721 (27 December 1984
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid600257 {\fs24\lang2057\langfe1033\langnp2057\insrsid12525885\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 BE IT ENACTED}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  by the }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 Parliament of the Cook Islands in Session }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 assembled, and by the}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721  authority of the same, as follows:}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid331952 {\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 PART I
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8334968 {\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 PRELIMINARY
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8334968 {\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 1.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Short Title}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3678687\charrsid8463721  This Act may be cited as the I}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 nternational Partnership Act 1984.
\par 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8334968\charrsid8463721 2.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Interpretation}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 In this Act unless the context otherwise requires }{\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 \endash }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 "Court" means the High Court of the Cook Islands;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 "Foreign Company" means a foreign }{
\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 company}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  under the International Companies Act 1981}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 82;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 "Instrument" includes any deed, contract, agreement or arrangement evidenced in writing;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 "International Company" means a company incorporated under the International Companies Act 1981}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 82;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid3678687\charrsid8463721 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 Minister}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3678687\charrsid8463721 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721  means the Minister of Finance;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 "Monetary Board"}{\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 means the Cook Islands Monetary Board established under the Cook Islands Monetary Board Act 1981;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid3678687\charrsid8463721 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Non}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 resident" means}{\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 :-}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (a)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 an individual not domiciled in the Cook Islands; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (b)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 an individual not ordinarily resident in the Cook Islands; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (c)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 an international company; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (d)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 a foreign company; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (e)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 a trustee company; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (f)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 a subsidiary of a trustee company being either}{\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
an international company or a foreign company;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 "Partnership" means a partnership, joint venture, syndicate or }{
\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 association}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  entered into for the purpose of carrying on a business or a single transaction wit}{
\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 h a view to a profit and evidenc}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ed}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 by an }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 instrument}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 but}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 does}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 not}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 include:
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13725266 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (a)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 a joint venture}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  of trustees where that joint venture relates only to a common fund}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 for mixing of trustees funds;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (b) a company;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (c)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 a corporation sole;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
"Partnership agreement" means an instrument by which a partnership is created, established, constituted or evidenced;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 "Prescribed" me
ans prescribed by regulations or in the absence of such regulations as may be determined by the Registrar;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid3678687\charrsid8463721 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 P}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 roperty" includes an estate or interest in real or personal property and anything in action;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 "Registered Foreign Company" means a foreign company
 registered under Part X of the International Companies Act 1981}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 82;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 "Registrar" means the Registrar of Partnerships and includes a Deputy Registrar;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 "Trustee company" means a trustee company under the Trustee Companies Act 1981}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 82.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6503032 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 3. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Inconsistent law 
not to affect international or limited partnerships}{\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 - T}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
he law in force in the Cook Islands and the rules of equity and}{\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721  common}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  law applicable }{
\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 to}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  partnerships shall apply to international }{\fs24\lang2057\langfe1033\langnp2057\insrsid7953430\charrsid8463721 p}
{\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 artnerships}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  and limited partnerships except so far as they are inconsistent with the express provisions of this Act.

\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par 4. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Application of this Act}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  Unless other}{\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 wise provided this Act shall only }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
apply to international partnerships and limited partnerships and }{\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 any }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
instrument relating to an international partnership or limited}{\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721  p}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 artnershi}{
\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 p}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  whether executed or ente}{\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
red into before on or after the commencement of this Act}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 .
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721 
\par 5. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Permitted business}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid6503032\charrsid8463721  No i}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 nternati}{\fs24\lang2057\langfe1033\langnp2057\insrsid2231901\charrsid8463721 onal partnership or limited par}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 tnership shall:
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2231901\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2231901 {\fs24\lang2057\langfe1033\langnp2057\insrsid2231901\charrsid8463721 (a) transact any off}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 shore insurance business }{\fs24\lang2057\langfe1033\langnp2057\insrsid7953430\charrsid8463721 or hold itself out a}{\fs24\lang2057\langfe1033\langnp2057\insrsid2231901\charrsid8463721 
s transacting any off}{\fs24\lang2057\langfe1033\langnp2057\insrsid7953430\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid2231901\charrsid8463721 shore insurance business as defined in sectio}{
\fs24\lang2057\langfe1033\langnp2057\insrsid7953430\charrsid8463721 n 2 of the O}{\fs24\lang2057\langfe1033\langnp2057\insrsid2231901\charrsid8463721 
ff-shore Insurance Act 1981-82, unless it holds a valid off-shore insurance license granted pursuant to section 6 of that Act; or}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2231901 {\fs24\lang2057\langfe1033\langnp2057\insrsid2231901\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2231901 {\fs24\lang2057\langfe1033\langnp2057\insrsid2231901\charrsid8463721 (b) transact any off-shore banking business or hold itself
 out as transacting any off-shore banking business, as defined in section 2 of the Off-}{\fs24\lang2057\langfe1033\langnp2057\insrsid7753400\charrsid8463721 s}{\fs24\lang2057\langfe1033\langnp2057\insrsid2231901\charrsid8463721 
hore Banking Act 1981, unless it holds a valid off-shore banking business license granted pursuant to section 7 of that Act.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13725266 {\fs24\lang2057\langfe1033\langnp2057\insrsid2231901\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid2231901\charrsid8463721 6. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid2231901\charrsid8463721 Registrar of partnerships}{
\fs24\lang2057\langfe1033\langnp2057\insrsid2231901\charrsid8463721  \endash  (1) The Registrar of International and Foreign Companies appointed pursuant to }{\fs24\lang2057\langfe1033\langnp2057\insrsid7953430\charrsid8463721 s}{
\fs24\lang2057\langfe1033\langnp2057\insrsid2231901\charrsid8463721 ection 8 of the International Companies Act 198}{\fs24\lang2057\langfe1033\langnp2057\insrsid7953430\charrsid8463721 1-82 shall be the Registrar of P}{
\fs24\lang2057\langfe1033\langnp2057\insrsid2231901\charrsid8463721 artnerships.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2231901\charrsid8463721 
\par (2) A Deputy Registrar of International and Foreign Companies and any}{\fs24\lang2057\langfe1033\langnp2057\insrsid12544708\charrsid8463721  officer appointed pursuant to section 8 of the International Companies Act 1981-82 shall be a Deputy }{
\fs24\lang2057\langfe1033\langnp2057\insrsid7038626\charrsid8463721 Registrar of Partnerships or officer as the case may be for the purposes of this Act.}{\fs24\lang2057\langfe1033\langnp2057\insrsid2231901\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid7038626\charrsid8463721 
\par (3) Anything authorised or required to be done by the Registrar under this Act may be authorised or done by a Deputy Registrar.
\par 
\par (4) All courts, judges and persons acting judicially shall take judicial notice of the seal and also the signature of the Registrar and of any Deputy Registrar.
\par 
\par 7. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid7038626\charrsid8463721 Registers}{\fs24\lang2057\langfe1033\langnp2057\insrsid7038626\charrsid8463721  \endash 
 The Registrar shall, subject to this Act and any regulations, keep such registers and records as he considers necessary and in such form as he thinks fit.
\par 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid331952 {\fs24\ul\lang2057\langfe1033\langnp2057\insrsid7038626\charrsid8463721 PART II
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7038626 {\fs24\ul\lang2057\langfe1033\langnp2057\insrsid7038626\charrsid8463721 INTERNATIONAL PARTNERSHIP}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8716784\charrsid8463721 S}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid7038626\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7038626 {\fs24\lang2057\langfe1033\langnp2057\insrsid7038626\charrsid8463721 
\par 8. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid7038626\charrsid8463721 International partnership}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8716784\charrsid8463721 s}{\fs24\lang2057\langfe1033\langnp2057\insrsid7038626\charrsid8463721  \endash 
 For the purposes of this Act an International }{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 Partnership means a partnership registered pursuant to section 10 of this Act.}{
\fs24\lang2057\langfe1033\langnp2057\insrsid7038626\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 9.}{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721  }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 Ap}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 plication for registration}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  Applicatio}{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 n for registration}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  of a partne}{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 r}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ship }{
\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 a}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 s an international partnership shall be made to the Registrar}{
\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 in the prescribed form and accompanied by the prescribed fee.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 10. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 R}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 egis}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 trati}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 o}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 n}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 (1) No partnership shall be registered as an intern}{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 a}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
tional partnership unless the Registrar has received a certificate completed by a trustee company certifying that:
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid11352312 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (}{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 a}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 )}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 one of the partners is either}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5130534\charrsid8463721  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid11352312 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (i)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 a registered foreign company; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid11352312 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (ii)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 an international company; or}{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11352312 {\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid11352312 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (iii)}{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 a trustee company;}{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid11352312 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (b)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 each partner is a non}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 resident}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5130534\charrsid8463721 .}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
Upon receipt of a certificate referred to in subsection }{\fs24\lang2057\langfe1033\langnp2057\insrsid5130534\charrsid8463721 (1) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
the Registrar shall register that partnership upon the Register of International Partnerships kept for that purpose and issue a certificate of regis}{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 tration in the prescribed form.}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (3)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 A certifica
te of registration under the hand and seal of the Registrar shall be conclusive evidence that all the requirements this Act, in respect of registration and other matters precedent and incidental thereto have been complied with and that }{
\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 the}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  international partnership referred to }{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 
therein}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  was duly registered under this Act.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 11. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 Annual certificate of registration}{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721  
\endash  (1) A certificate of registration issued pursuant to section 10(2) shall be valid and effective for one year from the date of registration specified in that certificate.
\par 
\par (2) Application for renewal of registration may be made upon:
\par 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid11352312 {\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 (a) Filing with the Registrar an application for renewal of registration in the prescribed form;

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11352312 {\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid11352312 {\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 (b) Payment of the prescribed fee.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11352312 {\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 
\par (3) Subject to section 77 of this Act, no application for renewal of registration pursuant to subsection (2) of this section shall be granted were the application if filed or fee paid after the date of expiry of the last certificate of registration.

\par 
\par (4) Every renewal of registration shall be for a period of one year from the date of expiry of the last certificate of registration.
\par 
\par 12. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 Registration of partnership agreement}{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid404300\charrsid8463721 \endash }{\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid404300\charrsid8463721 
Any person who is a partner may provide the Registrar with a copy of the partnership agreement or any amendment thereto which shall be certified in the manner prescribed and the Registrar shall register that copy as a true copy and file the same.}{
\fs24\lang2057\langfe1033\langnp2057\insrsid11352312\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid404300\charrsid8463721 
\par 13. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid404300\charrsid8463721 Registered office}{\fs24\lang2057\langfe1033\langnp2057\insrsid404300\charrsid8463721 
- (1) The registered office of an international partnership shall be the address in the Cook Islands of the registered foreign company, international company or trustee company which is a partner.
\par 
\par (2) The address for service of any documents upon an international partnership shall be the registered office of the partnership.
\par 
\par (3) Every international partnership, shall have its name displayed on the outset of its registered office in a conspicuous position in letters easily legible.
\par 
\par 14. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid404300\charrsid8463721 Proceedings by or against international partnerships}{\fs24\lang2057\langfe1033\langnp2057\insrsid404300\charrsid8463721  \endash 
 Where any proceedings are instituted by or against an international partnership it shall be sufficient to name the international}{\fs24\lang2057\langfe1033\langnp2057\insrsid10441231\charrsid8463721 
 company, registered foreign company or trustee company which is a partner and it shall not be necessary to join in the action any other partner.}{\fs24\lang2057\langfe1033\langnp2057\insrsid404300\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10441231\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid10441231\charrsid8463721 15.}{\fs24\lang2057\langfe1033\langnp2057\insrsid7481993\charrsid8463721  }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid7481993\charrsid8463721 Power of partner to bind the firm}{\fs24\lang2057\langfe1033\langnp2057\insrsid7481993\charrsid8463721 
 - Every partner is an agent of the firm and the other partners for the purpose of the business of the partnership; and the acts of every partner who does any act for carrying on in the usual way business of the kind carried on by the firm of which the pa
r
tner is a member bind the firm and the other partners, unless the partner so acting has in fact no authority to act for the firm in the particular matter, and the person with whom the partner is dealing either knows that the partner has no authority or do
es not know or believe that person to be a }{\fs24\lang2057\langfe1033\langnp2057\insrsid10496706\charrsid8463721 par}{\fs24\lang2057\langfe1033\langnp2057\insrsid7481993\charrsid8463721 tner.}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid15541621\charrsid8463721 16. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Partners bound by acts on behalf of firm}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  (1) Subject to subsection }{
\fs24\lang2057\langfe1033\langnp2057\insrsid15541621\charrsid8463721 (2) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 of this section,}{\fs24\lang2057\langfe1033\langnp2057\insrsid15541621\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 an act or instrument relating to the business of}{\fs24\lang2057\langfe1033\langnp2057\insrsid15541621\charrsid8463721  the firm, and done or executed }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 in the firm name, or in any other manner }{\fs24\lang2057\langfe1033\langnp2057\insrsid15541621\charrsid8463721 showing an intention to bind }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the firm, by any person thereto authorised, }{\fs24\lang2057\langfe1033\langnp2057\insrsid15541621\charrsid8463721 whether a partner or not, is }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 binding on the firm and all the partners.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid15541621\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid15541621\charrsid8463721 This section shall not affe}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ct any general rule of }{\fs24\lang2057\langfe1033\langnp2057\insrsid15541621\charrsid8463721 law }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
relating to the execution of deeds or negotiable instruments.
\par 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid15541621\charrsid8463721 17. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Partner using credit of firm for private purposes}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8873077\charrsid8463721  W}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15541621\charrsid8463721 here one p}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 artner pledges the credit of the firm for a purpose apparently not }{
\fs24\lang2057\langfe1033\langnp2057\insrsid15541621\charrsid8463721 c}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 onn}{\fs24\lang2057\langfe1033\langnp2057\insrsid15541621\charrsid8463721 ected with the firm's ordinary }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 course of business, the firm}{\fs24\lang2057\langfe1033\langnp2057\insrsid15541621\charrsid8463721  is not bound unless}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5076853\charrsid8463721  that partner is in fact specially }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 authorised by }{
\fs24\lang2057\langfe1033\langnp2057\insrsid5076853\charrsid8463721 the other partners; but }{\fs24\lang2057\langfe1033\langnp2057\insrsid8873077\charrsid8463721 t}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 his section shall not}
{\fs24\lang2057\langfe1033\langnp2057\insrsid5076853\charrsid8463721  affect any perso}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 nal individual partner.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5076853\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 18. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Effect of notice that firm not bound by acts of partner}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8873077\charrsid8463721  If it has been }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 agreed between the partners that any restr
iction shall be placed on the power of any one or more of them to bind the firm no act done in contravention of the agreement is binding on the firm with respect to persons having notice of the agreement.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5076853\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid5076853 {\fs24\lang2057\langfe1033\langnp2057\insrsid5076853\charrsid8463721 19. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Liability of partners}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  Every partner in a firm}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5076853\charrsid8463721  is liable jointly with the oth}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 er partners for all debts and obligations of the firm incurred}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5076853\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 while a partner; }{\fs24\lang2057\langfe1033\langnp2057\insrsid5076853\charrsid8463721 and after a partner}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8873077\charrsid8463721 '}{\fs24\lang2057\langfe1033\langnp2057\insrsid5076853\charrsid8463721 s death}{\fs24\lang2057\langfe1033\langnp2057\insrsid8873077\charrsid8463721 ,}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5076853\charrsid8463721  bankruptcy or }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 liquidation shall remain severally liable for}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5076853\charrsid8463721  such debts and obligations as far as they remain unsatisfied but subject to the prior payment of that partner}{\fs24\lang2057\langfe1033\langnp2057\insrsid8873077\charrsid8463721 '}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5076853\charrsid8463721 s separate debts.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid5076853\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8732088\charrsid8463721 20. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Liability of the firm for wrongs}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  Where by the }{\fs24\lang2057\langfe1033\langnp2057\insrsid8732088\charrsid8463721 wrongful act or omission of any}
{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  partner acting in}{\fs24\lang2057\langfe1033\langnp2057\insrsid8732088\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the ord}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8732088\charrsid8463721 inary course of}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  the business of the f}{\fs24\lang2057\langfe1033\langnp2057\insrsid8873077\charrsid8463721 
irm, or with the authority of co}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 partners, loss or injury is caused to any person not being a partner in the firm,}
{\fs24\lang2057\langfe1033\langnp2057\insrsid8732088\charrsid8463721  o}{\fs24\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721 r any p}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
enalty is incurred, the firm is liable therefore to the }{\fs24\lang2057\langfe1033\langnp2057\insrsid8732088\charrsid8463721 same }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 extent as the partner so acting or omitting to act.

\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8732088\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 21.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Misapplication of money}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 received}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721 for}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  firm}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 - }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 In}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 following}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 cases, namely, }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1210029 {\fs24\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721 (a) W}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
here one partner acting within the scope of his or i}{\fs24\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721 t}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 s apparent authority receive}{
\fs24\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721 s the money or property o}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 f a third person}{\fs24\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721 
 and misapplies it; }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1210029 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (b)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721 W}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 here a firm in the course of its business receives money }{
\fs24\lang2057\langfe1033\langnp2057\insrsid4815223\charrsid8463721 or }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 property of a third per}{\fs24\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721 
son, and the money or property so received is misapp}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 lied }{\fs24\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721 by one or more of the partners while it is i}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 n the custody of the firm}{\fs24\lang2057\langfe1033\langnp2057\insrsid4815223\charrsid8463721 ,}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the firm is liable to make good the loss.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 22.}{\fs24\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721 Joint a}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 nd several liability}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  Every partner is liable jointly with his or its co}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 partners an}{\fs24\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721 d also severally for every thing}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 for which the firm, while he or it is a partner therein, becomes liable under either sections 20 or 21 of this Act.
\par 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721 23. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Improper employment of trust property for }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721 partnership purposes}{\fs24\lang2057\langfe1033\langnp2057\insrsid4815223\charrsid8463721  - I}{\fs24\lang2057\langfe1033\langnp2057\insrsid1210029\charrsid8463721 f a}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  partner, being a trustee, improperly employs}{\fs24\lang2057\langfe1033\langnp2057\insrsid605520\charrsid8463721  trust property in the business or on the}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  account of the partnership,}{\fs24\lang2057\langfe1033\langnp2057\insrsid605520\charrsid8463721  no other partner is liable for the trust property to the }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 persons beneficially interested}{\fs24\lang2057\langfe1033\langnp2057\insrsid605520\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid4815223\charrsid8463721 therein: }{
\fs24\lang2057\langfe1033\langnp2057\insrsid605520\charrsid8463721 Provided that-}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid605520\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid605520 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (a)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 This section shall not affect any }{\fs24\lang2057\langfe1033\langnp2057\insrsid605520\charrsid8463721 liability incurred by any }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 partner by reason of that }{\fs24\lang2057\langfe1033\langnp2057\insrsid605520\charrsid8463721 partner having notice of a breach of }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 trust; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid605520\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid605520 {\fs24\lang2057\langfe1033\langnp2057\insrsid605520\charrsid8463721 (b) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
Nothing in this section shall prevent }{\fs24\lang2057\langfe1033\langnp2057\insrsid605520\charrsid8463721 trust money from b}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 eing followed and recovered from the }{
\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 firm}{\fs24\lang2057\langfe1033\langnp2057\insrsid605520\charrsid8463721  if still in }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 its pos
session or under its control.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid605520\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 24. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Persons liable by "holding out"}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  (1) Except as provided }{\fs24\lang2057\langfe1033\langnp2057\insrsid605520\charrsid8463721 in sub}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
section (2) of this section every person who, by words spoken or written, or by conduct, repre}{\fs24\lang2057\langfe1033\langnp2057\insrsid605520\charrsid8463721 sents himself or itself or who k}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 now}{\fs24\lang2057\langfe1033\langnp2057\insrsid605520\charrsid8463721 ingly}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  suf}{
\fs24\lang2057\langfe1033\langnp2057\insrsid605520\charrsid8463721 fers himself or itself to be represented, as a partner in}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  a particular firm is liable as}{
\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721  a partner to any one who has, o}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 n the }{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721 faith }
{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 of any such representation, given credit to the firm, }{\field\fldedit{\*\fldinst {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  HYPERLINK http://whetl.er }{
\fs24\lang2057\langfe1033\langnp2057\insrsid4423253\charrsid8463721 {\*\datafield 
00d0c9ea79f9bace118c8200aa004ba90b0200000003000000e0c9ea79f9bace118c8200aa004ba90b2200000068007400740070003a002f002f0077006800650074006c002e00650072002f00000000000000000000000000}}}{\fldrslt {
\cs15\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721 wheth}{\cs15\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 er}}}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  t
he representation has or has not been made or communicated to the person so giving credit by or with the knowledge of the apparent partner making the representation or suffering it to be made.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid4815223\charrsid8463721 W}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 here after the date that a pa}{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721 rtner ceases to be a partner a}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 nd the partnership business is conti}{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721 nued in the old firm name, the c}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ontinued use of that name or that partner's name as part thereof}{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 shall n}{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721 ot of itself make that partner o}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
r the legal representative}{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 of that partner liable for any partnersh}{
\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721 ip debts contracted after that d}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ate.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721 
\par 25.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Admissions and representations of partners}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721  An admission or re}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 presentation made by any partner concerning the}{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 partnership}{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 a}{
\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721 ffairs, and in the ordinary course of its b}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 usiness}{
\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721 , is evidence ag}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 a}{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721 i}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 nst the firm.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721 
\par 26. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721 Notice }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 to acting partner to be notice to firm}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721  Notic}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 e to any}{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721  partner who}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 habitually acts in the partnership business of any matter}{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721  relating to partnership}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 affairs operates as notice to the firm,}{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721  except in th}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 e case of a fraud on the firm committed by or with the }{
\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721 consent of that p}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 artn}{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721 e}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 r.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721 
\par 2}{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 7.}{\fs24\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid11094536\charrsid8463721 Liabilities of }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 incom}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ing and outgoing partners}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721  (1) A person ad}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 mitted as a}{
\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 partner into an existin}{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 
g firm does not thereby become li}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 able to the creditors of the firm for anything done before becoming }{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 a }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 partner.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 
\par (}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 A}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  partner who retires from a firm does}{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721  not thereby cease to be li}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ab}{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 l}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
e for partnership debts or obligations incurred}{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 before retirement.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (3)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 A retiring partner ma}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 y be discharged from any existing lia}{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 bilities by}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 a}{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 n}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  agreement to that effect between that partner and the 
members of the firm as newly constituted and the creditors, and this agreement}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 ma}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 y be either express or inferred as a fact from the course of dealing between the creditors and the firm as newly constituted.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 
\par 28. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Revocation of continuing guarantee by change in firm}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  A continuing guaranty given either to a firm or to a third person in respect of the transactions of a fir}{
\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 m}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  is, in the absence of agreement to the cont}{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 
rary, revoked as to future tran}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 sactions by any change in the c}{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 onstitution of the firm
 to which, or of the firm in resp}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ect of the transactions of which the guarantee}{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 was given.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 
\par 29. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 Variation b}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 y}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid466185\charrsid8463721 consent of terms of p}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 artnership}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  The m}{\fs24\lang2057\langfe1033\langnp2057\insrsid2305669\charrsid8463721 utual rights and duties of part}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ne}{\fs24\lang2057\langfe1033\langnp2057\insrsid2305669\charrsid8463721 r}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 s, }{
\fs24\lang2057\langfe1033\langnp2057\insrsid2305669\charrsid8463721 whether asc}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ertained by agreement or}{\fs24\lang2057\langfe1033\langnp2057\insrsid2305669\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 defined by this Act, may be varied by the consent of all the partners, and such consent may be either express or inferred from a course of dealing.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2305669\charrsid8463721 
\par 30. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Partnership property}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  (1) All pr}{\fs24\lang2057\langfe1033\langnp2057\insrsid2305669\charrsid8463721 operty and rights and interest i}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
n property originally brought into the }{\fs24\lang2057\langfe1033\langnp2057\insrsid2305669\charrsid8463721 partnership stock or acquired (w}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 he
ther by purchase or otherwise) on account of the firm or for}{\fs24\lang2057\langfe1033\langnp2057\insrsid2305669\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
the purposes and in the course of the partnership business, are called in this Act "partnership property", and mu}{\fs24\lang2057\langfe1033\langnp2057\insrsid2305669\charrsid8463721 st be held and applied by the partners excl}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 us}{\fs24\lang2057\langfe1033\langnp2057\insrsid2305669\charrsid8463721 ivel}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 y for the purposes}{
\fs24\lang2057\langfe1033\langnp2057\insrsid2305669\charrsid8463721  of the partnership and in accor}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 dance with the partnership agreement.
\par 
\par (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Provided that the legal estate or interest in any land}{
\fs24\lang2057\langfe1033\langnp2057\insrsid2305669\charrsid8463721  which}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  belongs to the partnership shall devol}{\fs24\lang2057\langfe1033\langnp2057\insrsid2305669\charrsid8463721 
ve according to the nature and t}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 enure thereof and the general rules of }{\fs24\lang2057\langfe1033\langnp2057\insrsid2305669\charrsid8463721 law thereto applicable, but in tru}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 st, so far as necessary, for the pe}{\fs24\lang2057\langfe1033\langnp2057\insrsid2305669\charrsid8463721 rsons beneficially interested in th}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 e land}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 under}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 this}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 section.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2305669\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (3)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid4815223\charrsid8463721 W}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 here co}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
owners of an estate or interest in any land not being itself partnership property are partners as to profits made}{\fs24\lang2057\langfe1033\langnp2057\insrsid6113718\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
by the use of that land or estate, and purchase other land or estate out of the profits to be used in like manner, the land or estate so purchased belongs to them, in the absence of an agreement to the contrary,}{
\fs24\lang2057\langfe1033\langnp2057\insrsid6113718\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 not as partners, but as co}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 owners for the same }{\fs24\lang2057\langfe1033\langnp2057\insrsid6113718\charrsid8463721 r}{\fs24\lang2057\langfe1033\langnp2057\insrsid14822002\charrsid8463721 espective estates and}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  interest as are held by them in the land or estate first mentioned at the date of the purchase.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6113718\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 31. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Property bought with partnership money}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid15094580\charrsid8463721  Unless the contrary intention}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 appears, property bought with money belonging to the firm is deemed to have been bought on account of the firm.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid15094580\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 32. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Conversion into personal estate of land held as partnership property}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid14822002\charrsid8463721 - W}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
here land has become partnership property it shall, unless the}{\fs24\lang2057\langfe1033\langnp2057\insrsid15094580\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 con
trary intention appears, be treated as between the partners (includin}{\fs24\lang2057\langfe1033\langnp2057\insrsid15094580\charrsid8463721 g}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  the}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 representatives}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 of a}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 deceased}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 partner),}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 and}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 also}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 as}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 between}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15094580\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 heirs of a }{\fs24\lang2057\langfe1033\langnp2057\insrsid15094580\charrsid8463721 d}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 eceased partner and his executors or administrators as personal and not real estate.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid15094580\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 33. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Procedure against partnership property for partner's separate _judgement debt}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 (1) A writ of execution shall not issue against any partnership property except on a judgement against the firm.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8217884\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid14822002\charrsid8463721 This High C}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ourt or a Judge thereof may, on the application
 by summons of any judgement creditor of a partner, make an order charging that partner's interest in the partnership property and profits with}{\fs24\lang2057\langfe1033\langnp2057\insrsid8217884\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid13725266\charrsid8463721 payment of }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the amount of the judgement debt and interest thereon; and may by the same or a subsequent order appo
int a receiver of that partner's share of profits (whether already declared or }{\fs24\lang2057\langfe1033\langnp2057\insrsid13725266\charrsid8463721 accruing}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
), and of any other money coming to that partner in respect of the partnership, and direct all accounts and inquiries and give all other orders and directions which migh
t have been directed or given if the charge had been made in favour of the judgement creditor by the partner, or which the circumstances of the case require.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12860460\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (3)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 The other partner or partners shall be a}
{\fs24\lang2057\langfe1033\langnp2057\insrsid14822002\charrsid8463721 t}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  liberty at any}{\fs24\lang2057\langfe1033\langnp2057\insrsid12860460\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 time to redeem the interest charged or, in case of a sale being directed, to purchase the same.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12860460\charrsid8463721 
\par 3}{\fs24\lang2057\langfe1033\langnp2057\insrsid14822002\charrsid8463721 4}{\fs24\lang2057\langfe1033\langnp2057\insrsid12860460\charrsid8463721 . }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12860460\charrsid8463721 Rul}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 es as to interest and duties of partners}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  The interest of partne}{\fs24\lang2057\langfe1033\langnp2057\insrsid12860460\charrsid8463721 r}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 in the partnership property, and their rights and duties in relation}{\fs24\lang2057\langfe1033\langnp2057\insrsid12860460\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
to the partnership, shall be determined, subject to any agreement (express or implied) between the partners, by the following rules:
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8147856 {\fs24\lang2057\langfe1033\langnp2057\insrsid8147856\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13725266 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (a)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 All the partners are entitled to share equally in the capital and profits of the business, and must contribute equally towards the losses, whether of}{
\fs24\lang2057\langfe1033\langnp2057\insrsid12860460\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 capital or otherwise, sustained by the firm;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8147856 {\fs24\lang2057\langfe1033\langnp2057\insrsid8147856\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13725266 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (b)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 The firm must i}{\fs24\lang2057\langfe1033\langnp2057\insrsid12860460\charrsid8463721 n}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
demnify every partner in respect of payments made and personal li}{\fs24\lang2057\langfe1033\langnp2057\insrsid13725266\charrsid8463721 abilities incurred by a partner-}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8147856 {\fs24\lang2057\langfe1033\langnp2057\insrsid8147856\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2951084 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (i)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 In the ordinary and proper conduct of the business of the firm; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2951084 {\fs24\lang2057\langfe1033\langnp2057\insrsid12860460\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2951084 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (ii)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 In or about anything necessarily done for the preservation of the bu}{\fs24\lang2057\langfe1033\langnp2057\insrsid14822002\charrsid8463721 siness or property of the firm;}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid12860460\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid12460396 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (c)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 A partner making, for the purpose of the partnership, any actual payment or advance beyond the amount of capital which that partner has agreed to subscribe is entitl
ed to interest at the rate of 5 percent per annum from the}{\fs24\lang2057\langfe1033\langnp2057\insrsid14822002\charrsid8463721  date of the payment or advance;}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12460396 {\fs24\lang2057\langfe1033\langnp2057\insrsid8147856\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid12460396 {\fs24\lang2057\langfe1033\langnp2057\insrsid8147856\charrsid8463721 (d) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
A partner is not entitled, before the ascertainment of profits, to interest on the capital subscribed by him or it;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12460396 {\fs24\lang2057\langfe1033\langnp2057\insrsid8147856\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid12460396 {\fs24\lang2057\langfe1033\langnp2057\insrsid8147856\charrsid8463721 (e) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
Every partner may take part in the management of the partnership business;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12460396 {\fs24\lang2057\langfe1033\langnp2057\insrsid8147856\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid12460396 {\fs24\lang2057\langfe1033\langnp2057\insrsid8147856\charrsid8463721 (f) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
No partner shall be entitled to remuneration for acting in the partnership business;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12460396 {\fs24\lang2057\langfe1033\langnp2057\insrsid8147856\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid12460396 {\fs24\lang2057\langfe1033\langnp2057\insrsid8147856\charrsid8463721 (g) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 No person may be }
{\field\fldedit{\*\fldinst {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  HYPERLINK http://introcucted.as }{\fs24\lang2057\langfe1033\langnp2057\insrsid4423253\charrsid8463721 {\*\datafield 
00d0c9ea79f9bace118c8200aa004ba90b0200000003000000e0c9ea79f9bace118c8200aa004ba90b2e00000068007400740070003a002f002f0069006e00740072006f006300750063007400650064002e00610073002f00000000000000000000000000}}}{\fldrslt {
\cs15\fs24\lang2057\langfe1033\langnp2057\insrsid12460396\charrsid8463721 introduc}{\cs15\fs24\lang2057\langfe1033\langnp2057\insrsid8147856\charrsid8463721 ed }{\cs15\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 as}}}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  a partner witho}{\fs24\lang2057\langfe1033\langnp2057\insrsid3477856\charrsid8463721 ut the consent of all existing p}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 artners;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12460396 {\fs24\lang2057\langfe1033\langnp2057\insrsid3477856\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid12460396 {\fs24\lang2057\langfe1033\langnp2057\insrsid3477856\charrsid8463721 (h) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Any}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3477856\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 difference}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 arising as}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 to}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ordinary matters}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 connected with the partnersh}{\fs24\lang2057\langfe1033\langnp2057\insrsid3477856\charrsid8463721 ip business may be decided by a majority o}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 f the partners, but no change may be made in the nature o}{\fs24\lang2057\langfe1033\langnp2057\insrsid3477856\charrsid8463721 f}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  the partnership business without the consent of all existing partners;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid3477856\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid12460396 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (i)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 The partnership books are to be kept at the place of business of the partnership (or the principal place if there is more than one), and every partner shall}{
\fs24\lang2057\langfe1033\langnp2057\insrsid12460396\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 have access to and may inspect and copy any of them.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid16475224\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 35.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Expulsion of partner}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid16475224\charrsid8463721  A majority of the}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  partners cannot expel any partner unless a power to do so has been conferred by}{\fs24\lang2057\langfe1033\langnp2057\insrsid16475224\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 express agreement between the partners.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16475224\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 36. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Retirement from partnership at will}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  (1) Where no fixed term has been agreed upon for the
 duration of the partnership, any partner may determine the partnership at any time on giving notice so to do to all the other partners.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16475224\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
Where the partnership has originally been constituted by deed, a notice in writing, signed or executed by the partner giving it, shall be sufficient for this purpose.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16475224\charrsid8463721 
\par 37.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Conditions of partnership where term continued over}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 (1) Where a partnership entered into for a fixed term is continued after the term }{\fs24\lang2057\langfe1033\langnp2057\insrsid9255921\charrsid8463721 h}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
as expired, and without any expressed new }{\fs24\lang2057\langfe1033\langnp2057\insrsid16475224\charrsid8463721 a}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 greement, 
the rights and duties of the partners remain the same as they were at the exp}{\fs24\lang2057\langfe1033\langnp2057\insrsid16475224\charrsid8463721 iration}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
, of the term, so far as is consistent with th}{\fs24\lang2057\langfe1033\langnp2057\insrsid16475224\charrsid8463721 e incidents of a partnership at }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 will.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16475224\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
A continuance of the business by the partners, or}{\fs24\lang2057\langfe1033\langnp2057\insrsid12460396\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 such of them as habitually acted 
therein during the term, without any settlement or liquidation of the partnership affairs is presumed to be a continuance of the partnership.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16475224\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 38. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Duty to render accounts}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  Partners are bound to render true accounts and full information of all things aff}{
\fs24\lang2057\langfe1033\langnp2057\insrsid16475224\charrsid8463721 ecting the partnership to any p}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 artner or that partner}{
\fs24\lang2057\langfe1033\langnp2057\insrsid9255921\charrsid8463721 '}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 s legal representative.
\par 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid7089497\charrsid8463721 39}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 . }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
Partners to account for private profits}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid3543414\charrsid8463721 
 (1) Every partner must }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 account to the firm for any benefit derived by that partner without the consent of the other }{
\fs24\lang2057\langfe1033\langnp2057\insrsid7089497\charrsid8463721 partners from any transaction con}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 cerning the partnership, or f}{
\fs24\lang2057\langfe1033\langnp2057\insrsid7089497\charrsid8463721 rom any by that partner of the p}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 artnership property, including the firm name.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid7089497\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
This section applies also to transactions undertaken after a partnership has been dissolved by the death or liqu}{\fs24\lang2057\langfe1033\langnp2057\insrsid12460396\charrsid8463721 i}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
dation of a partner, and before the affairs thereof have been completely wound up, either by any surviving or continuing partner or by the representatives of the deceased partner or its liquidator.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid14381818\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 40. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Rights of assignee of share of partnership}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 (1) A share or part thereof of a partner in a partnership notwithstanding any rule of law to the contrary shall be deemed to be an equitable chose in action}{\fs24\lang2057\langfe1033\langnp2057\insrsid14381818\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 which subject to the }{\fs24\lang2057\langfe1033\langnp2057\insrsid14381818\charrsid8463721 partnership}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 agreement shall be capable of assignment.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid14381818\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 An assignment of a
 partner share or part thereof shall}{\fs24\lang2057\langfe1033\langnp2057\insrsid5783801\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
be in writing and for valuable consideration and the assignor shall give notice in writing of that assignment to the}{\fs24\lang2057\langfe1033\langnp2057\insrsid5783801\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 other partners of the partnership.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2260625\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (3)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Assignment of a partner}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3543414\charrsid8463721 '}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 s share in the partnership or part the
reof either absolute or by way of mortgage, does not, as against the other partners, entitled the assignee, during the continuance of the partnership, to interfere in the management or administration}{
\fs24\lang2057\langfe1033\langnp2057\insrsid9309746\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 of the partnership business or affairs, or to require an
y account of the partnership transactions or to inspect the partnership book}{\fs24\lang2057\langfe1033\langnp2057\insrsid5767553\charrsid8463721 s, but entitles the assignee only to }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
receive the share of profits}{\fs24\lang2057\langfe1033\langnp2057\insrsid9309746\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
to which the assigning partner would otherwise be entitled and obliges the assignee to indemnify th}{\fs24\lang2057\langfe1033\langnp2057\insrsid3543414\charrsid8463721 e assigning partner for losses o}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
f the partnership in respect of the share or part share assigned which the assigning partner would otherwise be obliged to meet but for the assignment and the assignee must accept the account of profits or losses agreed to by the partners.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5767553\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (4)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 In}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8739202\charrsid8463721  case of a dissolution of the partnership}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
, whether as respects all the partners or as respects the assigning partner, the assignee is entitled to receive the share of the partnership assets to which the assigning partner is entitled as between himself or}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8739202\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 its and the other partners, and, for the purpose of ascertaining the}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8739202\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid13245526\charrsid8463721 share, to an account a}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
s from the date of the dissolution.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8739202\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 41. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Dissolution by expiration of notice}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  (1) Subject to}{\fs24\lang2057\langfe1033\langnp2057\insrsid9390977\charrsid8463721  an}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 y agreement between the parti}{\fs24\lang2057\langfe1033\langnp2057\insrsid6385711\charrsid8463721 es, a partnership is dissolved,-}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6300697\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6300697 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (a)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 If entered into for a fixed term, by the expiration of that term;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6300697\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6300697 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (b)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 If entered into for a single adventure or undertaking by the termination of that adventure or undertaking;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6300697\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6300697 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (c)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid6385711\charrsid8463721 If entered into for an unde}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 fined time, by any partner giving notice to the other or others of his in}{
\fs24\lang2057\langfe1033\langnp2057\insrsid6385711\charrsid8463721 te}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ntion to dissolve the partnership.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6300697\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
In the last mentioned case the partnership is dissolved}{\fs24\lang2057\langfe1033\langnp2057\insrsid6300697\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
as from the date mentioned in the notice as the date of dissolution, or, if no date is so mentioned as from the date of the communication of the notice.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6300697\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 42. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Dissolution by death, bankruptcy, or charge}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  (1) }{
\fs24\lang2057\langfe1033\langnp2057\insrsid9390977\charrsid8463721 Every partnership is dissolved a}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 s regards all the partners:
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6300697\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8155398 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (a)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 by the death bankruptcy or liquidation of any one of the partners; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid8155398\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8155398 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (b)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 wh}{\fs24\lang2057\langfe1033\langnp2057\insrsid8155398\charrsid8463721 e}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 re the parties}{
\fs24\lang2057\langfe1033\langnp2057\insrsid9067211\charrsid8463721  enter into partnership with an}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 other person for the purpose of carrying}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8155398\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 on the partnership business.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid8155398\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
A partnership may, at the option of the other partners, be dissolved if any partner suffers }{\fs24\lang2057\langfe1033\langnp2057\insrsid6885578\charrsid8463721 h}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
is share of the partnership property to be charged under this }{\fs24\lang2057\langfe1033\langnp2057\insrsid2294828\charrsid8463721 Ac}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 t for his separate debt.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2294828\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 43. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Dissolution by i}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid4786569\charrsid8463721 llegality of par}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 tnership}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  A partnership is in every case dissolved by the happening of any event which makes i}{\fs24\lang2057\langfe1033\langnp2057\insrsid8086362\charrsid8463721 
t unlawful for the business of th}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 e firm to be carried on or}{\fs24\lang2057\langfe1033\langnp2057\insrsid8086362\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 for the members of the firm to carry it }{\field\fldedit{\*\fldinst {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  HYPERLINK http://cr.in }{
\fs24\lang2057\langfe1033\langnp2057\insrsid4423253\charrsid8463721 {\*\datafield 00d0c9ea79f9bace118c8200aa004ba90b0200000003000000e0c9ea79f9bace118c8200aa004ba90b1c00000068007400740070003a002f002f00630072002e0069006e002f00000000000000000000000000}}
}{\fldrslt {\fs24\lang2057\langfe1033\langnp2057\insrsid4786569\charrsid8463721 on}}}{\fs24\lang2057\langfe1033\langnp2057\insrsid4786569\charrsid8463721  in}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  partnership.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4786569\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 44. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Dissolution by the }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10053756\charrsid8463721 cou}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 rt}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  On application by a partner the court may declare a dissolution of the partnership in any of the following cases:
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10053756\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (a)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid5466122\charrsid8463721 w}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 here a partner is shown }{\fs24\lang2057\langfe1033\langnp2057\insrsid10053756\charrsid8463721 to}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  the satisfaction of the Court to be of unsound }{\fs24\lang2057\langfe1033\langnp2057\insrsid10237195\charrsid8463721 mind;}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid10053756\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (b)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10053756\charrsid8463721 where a partner}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ,}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10053756\charrsid8463721 other th}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 an the partner suing,}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 becomes in any o}{\fs24\lang2057\langfe1033\langnp2057\insrsid10053756\charrsid8463721 th}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 er way per}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10053756\charrsid8463721 manently incapable of}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  performing his or its }{\fs24\lang2057\langfe1033\langnp2057\insrsid10053756\charrsid8463721 p
}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 art of the }{\fs24\lang2057\langfe1033\langnp2057\insrsid10053756\charrsid8463721 par}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 tnership contract;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid10053756\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid807825\charrsid8463721 (c) where a p}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
artner, other than the partner suing, has been guilty o}{\fs24\lang2057\langfe1033\langnp2057\insrsid807825\charrsid8463721 f}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  s}{
\fs24\lang2057\langfe1033\langnp2057\insrsid807825\charrsid8463721 uch cond}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 uct as in the opinion of}{\fs24\lang2057\langfe1033\langnp2057\insrsid807825\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the Court, regard being }{\fs24\lang2057\langfe1033\langnp2057\insrsid10237195\charrsid8463721 h}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
ad to the nature of the business is calculated to prejudic}{\fs24\lang2057\langfe1033\langnp2057\insrsid6385711\charrsid8463721 i}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ally affect the carrying on of the business;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid807825\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (d)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid14974916\charrsid8463721 w}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 here a partner, other t}{\fs24\lang2057\langfe1033\langnp2057\insrsid14574682\charrsid8463721 han}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  the partner suing, wilfully or persistently commits a }{\fs24\lang2057\langfe1033\langnp2057\insrsid6913254\charrsid8463721 brea}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ch of the partnership agreement or otherwise conducts himself or itself in matters relating}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid6913254\charrsid8463721 to}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  t}{\fs24\lang2057\langfe1033\langnp2057\insrsid6913254\charrsid8463721 he}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid6913254\charrsid8463721 partnership}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 business}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 that}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 it}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 is}{\fs24\lang2057\langfe1033\langnp2057\insrsid6913254\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 not reasonably practicable for the other}{
\fs24\lang2057\langfe1033\langnp2057\insrsid6385711\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 partner }{\fs24\lang2057\langfe1033\langnp2057\insrsid6913254\charrsid8463721 or partners to carry on the busin}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ess in partnership with that partner;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6913254\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (e)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 where the business of the partnership can only be carried on at a loss;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid14974916\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (f)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Where circumstances have arisen which, in the opinion of}{\fs24\lang2057\langfe1033\langnp2057\insrsid14974916\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the Court, render it}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10237195\charrsid8463721 just }{
\fs24\lang2057\langfe1033\langnp2057\insrsid14974916\charrsid8463721 and eq}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 uitable that the partnership be dissolved.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid14974916\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid3616901\charrsid8463721 45. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid3616901\charrsid8463721 Rights of persons dealing wi}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
th firm against apparent members}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid11166698\charrsid8463721  (1) W}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 here a person deals with }{\fs24\lang2057\langfe1033\langnp2057\insrsid3616901\charrsid8463721 f}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 irm af}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3616901\charrsid8463721 ter}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  a change in its constitution, that person is entitled to treat all apparent members of the }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3616901\charrsid8463721 o}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ld}{\fs24\lang2057\langfe1033\langnp2057\insrsid16459069\charrsid8463721  firm as}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  still being members}{\fs24\lang2057\langfe1033\langnp2057\insrsid6385711\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 o}{
\fs24\lang2057\langfe1033\langnp2057\insrsid11166698\charrsid8463721 f the firm}{\fs24\lang2057\langfe1033\langnp2057\insrsid16459069\charrsid8463721  u}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ntil the receipt of}{
\fs24\lang2057\langfe1033\langnp2057\insrsid16459069\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 notice of the change, which notice s}{\fs24\lang2057\langfe1033\langnp2057\insrsid16459069\charrsid8463721 hall}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid16459069\charrsid8463721 b}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 e gi}{
\fs24\lang2057\langfe1033\langnp2057\insrsid11166698\charrsid8463721 ven by way of advertisement in a }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 newspaper published and circ}{
\fs24\lang2057\langfe1033\langnp2057\insrsid16459069\charrsid8463721 ulated}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  generally in the Cook Islands.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16459069\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid4742969\charrsid8463721 Subject to s}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ubsection (1) of this section no former}{\fs24\lang2057\langfe1033\langnp2057\insrsid10051473\charrsid8463721  p}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
artner of a partnership shall be liable for any debt contracted after t}{\fs24\lang2057\langfe1033\langnp2057\insrsid10051473\charrsid8463721 he date of dissolution of that partn}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ership.

\par 
\par 46. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Continuing authority of partners for purposes of winding}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid4554332\charrsid8463721 -}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 up}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  After th}{\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721 e dissolution of a partnership }{\fs24\lang2057\langfe1033\langnp2057\insrsid16057545\charrsid8463721 t}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 he authority of each partner to bind the}{\fs24\lang2057\langfe1033\langnp2057\insrsid16057545\charrsid8463721  firm, and the other rights and}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  obligations of the partners, continue (}{\fs24\lang2057\langfe1033\langnp2057\insrsid16057545\charrsid8463721 notwithstanding the dissolution}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ) }{\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721 s}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
o far as may be necessary to wind up the affa}{\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721 i}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 rs of the partners, and t}{
\fs24\lang2057\langfe1033\langnp2057\insrsid16057545\charrsid8463721 o }{\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721 comp}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 lete transactions begun but unfinish}{
\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721 e}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 d}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 at}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 time}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 of}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 t}{
\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721 he}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721 dissolution}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ,}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 but}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721 not o}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 therwise:}{
\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721 
\par 
\par P}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 rovided that the firm is in no case bound by the acts of a partner who has beco}{\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721 m}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 e }{\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721 bankrupt or goes into liq}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 uidation; but this}{
\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721  p}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 rovisio}{\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721 n}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  does not affect the }{\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721 liability of any}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 person who has after the bank}{\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721 ruptcy or liquidation }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 re}{
\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721 pre}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 sented himself or, knowingly s}{\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721 u}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ffere}{\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721 d himself to b}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 e}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid16057545\charrsid8463721 represented, }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
as a partner of the bankrupt or partner in liquidati}{\fs24\lang2057\langfe1033\langnp2057\insrsid6836499\charrsid8463721 o}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 n.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid3698391\charrsid8463721 
\par 4}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 7}{\fs24\lang2057\langfe1033\langnp2057\insrsid3698391\charrsid8463721 .}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Rights of}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 partnership}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 as}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 to}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 application}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 of}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 partnership propert}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid3698391\charrsid8463721 y}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3698391\charrsid8463721 - }{\fs24\lang2057\langfe1033\langnp2057\insrsid15485760\charrsid8463721 O}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 n the d}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3698391\charrsid8463721 issolution of a partnership ever}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 y partner is entitled as against the other partners in the firm, a}{
\fs24\lang2057\langfe1033\langnp2057\insrsid6385711\charrsid8463721 nd all persons claiming through}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 them in respect of their interest as partners, to have the property of the partnership applied in payment of the debts and liabilities of the firm, and to have the surplus assets after}{\fs24\lang2057\langfe1033\langnp2057\insrsid3698391\charrsid8463721 
 }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 such payment applied in payment of what may be due to the partners respectively after deducting what may be due from them as partners}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3698391\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 of the firm; and for that purpose any partner or the representatives of that partner may, on th
e termination of the partnership, apply}{\fs24\lang2057\langfe1033\langnp2057\insrsid6385711\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 to the Court to wind up the business and affairs of the firm.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid3698391\charrsid8463721 
\par 4}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 8.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid7030857\charrsid8463721 Rights wh}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ere partnership dissolved for fraud or misrepresentation}{\fs24\lang2057\langfe1033\langnp2057\insrsid7030857\charrsid8463721  - }{
\fs24\lang2057\langfe1033\langnp2057\insrsid5773260\charrsid8463721 W}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
here a partnership contract is rescinded on the ground of the fraud or misrepresentation of one of the parties thereto, the party entitled}{\fs24\lang2057\langfe1033\langnp2057\insrsid7030857\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 to rescind is, without prejudi}{\fs24\lang2057\langfe1033\langnp2057\insrsid5773260\charrsid8463721 ce to any other right, entitled -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid96172\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid96172\charrsid8463721 (a) To a lien or right of retention of the surplus o
f the partnership assets, after the satisfying the partnership liabilities, for any sum of money paid by him or it for the purchase of a share in the partnership and for any capital contributed by him.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid96172\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid96172\charrsid8463721 (b) To stand in the place of the creditors of the fir
m for any payments made by him or it in respect of the partnership liabilities}{\fs24\lang2057\langfe1033\langnp2057\insrsid5515002\charrsid8463721 ;}{\fs24\lang2057\langfe1033\langnp2057\insrsid96172\charrsid8463721  and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid96172\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid96172\charrsid8463721 (c) To be indemnified, by the person guilty of the frau}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5515002\charrsid8463721 d or making the representation, }{\fs24\lang2057\langfe1033\langnp2057\insrsid96172\charrsid8463721 against all the debts and liabilities of the firm.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid7030857\charrsid8463721 
\par 4}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 9. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid7564551\charrsid8463721 Right of outgoing }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 partner to
 share profits made after dissolution}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 (1) Where any member of a firm dies or otherwise ceases to be a partner, and the surviving or continuing partners carry on the business of the firm with its capital or assets without any final settlement of accounts}{
\fs24\lang2057\langfe1033\langnp2057\insrsid9522538\charrsid8463721  as between }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the firm and the outgoing partner or his estate, then in the }{
\fs24\lang2057\langfe1033\langnp2057\insrsid9522538\charrsid8463721 absence of }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 any agreement to the contrary, the outgoing partner or}{
\fs24\lang2057\langfe1033\langnp2057\insrsid7564551\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
his estate is entitled, at the option of himself or his representative, to such share of the profits made since the dissolution as the court may find to be attributable to the use of his or its share of the partnership assets.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid7564551\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
where by the partnership contract an option is given to surviving or continuing partners to purchase the interest of a former partner, and that option is duly exercised}{\fs24\lang2057\langfe1033\langnp2057\insrsid10443789\charrsid8463721 
, that former partner or its liq}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 uidator, as the case may be, is not entitled to any further or other share of profits; but}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10443789\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 if any partner assuming to act in exercise}{\fs24\lang2057\langfe1033\langnp2057\insrsid16197173\charrsid8463721  }
{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 of the option does not in all material respects comply with the terms thereof that partner shall be liable to account under the foregoing provisions of this section.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10443789\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 5}{\fs24\lang2057\langfe1033\langnp2057\insrsid10443789\charrsid8463721 0}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 . }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Former partner's share to be a debt}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  Subject to any agreement between the partner}{\fs24\lang2057\langfe1033\langnp2057\insrsid1847322\charrsid8463721 s, the amount due from surviving or continuing partners to fo}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 rmer partner or the representatives of the deceased partner, or the liqu}{\fs24\lang2057\langfe1033\langnp2057\insrsid6385711\charrsid8463721 i}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 dator of a former partner in respect of the former partner's share,}{\fs24\lang2057\langfe1033\langnp2057\insrsid1847322\charrsid8463721  is a debt accruing a}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 t the date of the dissolution or death.
\par 
\par 51. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Distribu}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid5533489\charrsid8463721 tion of assets on final settlem}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ent of accounts}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  In settling accounts between the partners after }{\fs24\lang2057\langfe1033\langnp2057\insrsid6369945\charrsid8463721 a dissolution}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  of partnership }{\fs24\lang2057\langfe1033\langnp2057\insrsid2703001\charrsid8463721 th}{\fs24\lang2057\langfe1033\langnp2057\insrsid6369945\charrsid8463721 e following rules shall, subj
}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ect to any agreement, be observed:
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6369945\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid6369945\charrsid8463721 (a) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Losses, including loss}{
\fs24\lang2057\langfe1033\langnp2057\insrsid6369945\charrsid8463721 es }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 and deficiencies of capital shall be paid first out of profits, next out of ca}{
\fs24\lang2057\langfe1033\langnp2057\insrsid6369945\charrsid8463721 pital, and lastly, if }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
necessary, by the partners individually in the proportion in which they were entitled to share profits;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6369945\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid14441891\charrsid8463721 (b) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
The assets of the firm, including the sums (if any) contributed by the partners to make up losses or deficiencies}{\fs24\lang2057\langfe1033\langnp2057\insrsid14441891\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
of capital, shall be applied in the following manner and order;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid14441891\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (i)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 In paying the debts and liabilities of the firm to persons who are not partners therein;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid14441891\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid14441891\charrsid8463721 (ii) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 In paying to
 each partner rateably what is due from the firm to him for advanc}{\fs24\lang2057\langfe1033\langnp2057\insrsid6572270\charrsid8463721 es as distinguished from capital}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid14441891\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid14441891\charrsid8463721 (iii) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
In paying to each partner rateably what is due from the firm to him in respect of capital;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid14441891\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid6385711 {\fs24\lang2057\langfe1033\langnp2057\insrsid14441891\charrsid8463721 (iv) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 The ulti}{
\fs24\lang2057\langfe1033\langnp2057\insrsid14441891\charrsid8463721 mate residue, if any, shall be d}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ivide}{\fs24\lang2057\langfe1033\langnp2057\insrsid6385711\charrsid8463721 d amo}{
\fs24\lang2057\langfe1033\langnp2057\insrsid14441891\charrsid8463721 ng}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  the partners in the proportion in which profits are }{
\fs24\lang2057\langfe1033\langnp2057\insrsid6385711\charrsid8463721 divisible}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 .
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid5312583\charrsid8463721 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid331952 {\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 PART III}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid5312583\charrsid8463721 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid5312583 {\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 LIMITED PARTNERSHIPS
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid5312583 {\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid5312583\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid2829181\charrsid8463721 52. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid2829181\charrsid8463721 P}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 art II not to affect limited partnerships}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}
{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  Part II of this }{\fs24\lang2057\langfe1033\langnp2057\insrsid10772062\charrsid8463721 A}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ct shall }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10772062\charrsid8463721 no}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 t affect limited partnerships except in so far as}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10772062\charrsid8463721  t}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 he gener}{\fs24\lang2057\langfe1033\langnp2057\insrsid10772062\charrsid8463721 al law relating to partners in d}{
\fs24\lang2057\langfe1033\langnp2057\insrsid16537082\charrsid8463721 eclared by the succeeding provisi}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ons here}{\fs24\lang2057\langfe1033\langnp2057\insrsid16537082\charrsid8463721 
of to be applicable to limited p}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 artnerships.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16537082\charrsid8463721 
\par 53. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid16537082\charrsid8463721 Limited partnership}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 s}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  For the purposes of this Act, a limited }{\fs24\lang2057\langfe1033\langnp2057\insrsid10561695\charrsid8463721 
partn}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 e}{\fs24\lang2057\langfe1033\langnp2057\insrsid10561695\charrsid8463721 r}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 shi}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10561695\charrsid8463721 p}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  means a partnership reg}{\fs24\lang2057\langfe1033\langnp2057\insrsid10561695\charrsid8463721 
istered pursuant to section 55 of this A}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ct.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10561695\charrsid8463721 
\par 5}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 4.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10561695\charrsid8463721 Application}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  for registration}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  (1) Application}{\fs24\lang2057\langfe1033\langnp2057\insrsid10561695\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8090455\charrsid8463721 f registration of a }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 par}{\fs24\lang2057\langfe1033\langnp2057\insrsid10561695\charrsid8463721 t}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
nership as a limited partnership shall be made by a }{\fs24\lang2057\langfe1033\langnp2057\insrsid12728398\charrsid8463721 p}{\fs24\lang2057\langfe1033\langnp2057\insrsid10561695\charrsid8463721 artner }{
\fs24\lang2057\langfe1033\langnp2057\insrsid12728398\charrsid8463721 who on registration will }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 be a general partner.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10561695\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721 E}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ver}{\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721 y ap}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
plication shall be made to the registrar }{\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721 in the p}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 rescribe}{
\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721 d}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721 f}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 orm and accompanied by the prescribed}{\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 fee.

\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721 
\par 5}{\fs24\lang2057\langfe1033\langnp2057\insrsid13314288\charrsid8463721 5}{\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721 . }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Registration}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  (1) No partnership shall }{
\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721 be }{\fs24\lang2057\langfe1033\langnp2057\insrsid8090455\charrsid8463721 registered as }{\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721 a l}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 imited partnership unless the Registrar has }{\fs24\lang2057\langfe1033\langnp2057\insrsid8090455\charrsid8463721 received }{
\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721 a certificate c}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ompleted }{\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721 by}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  a trustee company }{\fs24\lang2057\langfe1033\langnp2057\insrsid11483666\charrsid8463721 certifying}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  that:
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6444328 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (a)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8090455\charrsid8463721 o}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ne of the }{\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721 general}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  partners is either:
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid6444328 {\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721 (i}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
) a registered foreign company; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid6444328 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (ii) an international company; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14358489 {\fs24\lang2057\langfe1033\langnp2057\insrsid13314288\charrsid8463721 (iii) a trustee company; a}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
nd
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid6444328\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13314288 {\fs24\lang2057\langfe1033\langnp2057\insrsid13314288\charrsid8463721 (b}{\fs24\lang2057\langfe1033\langnp2057\insrsid8090455\charrsid8463721 ) u}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 pon registration the limited partnership will consist of one or more general partners and one or more limited partners; and}{
\fs24\lang2057\langfe1033\langnp2057\insrsid13314288\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13314288 {\fs24\lang2057\langfe1033\langnp2057\insrsid13314288\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13314288 {\fs24\lang2057\langfe1033\langnp2057\insrsid13314288\charrsid8463721 (c)}{\fs24\lang2057\langfe1033\langnp2057\insrsid14358489\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 each partner is a non}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 resident; and}{
\fs24\lang2057\langfe1033\langnp2057\insrsid13314288\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13314288 {\fs24\lang2057\langfe1033\langnp2057\insrsid13314288\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13314288 {\fs24\lang2057\langfe1033\langnp2057\insrsid13314288\charrsid8463721 (d) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
the partnership is entered into for a pe}{\fs24\lang2057\langfe1033\langnp2057\insrsid13314288\charrsid8463721 riod of not more than 51 years.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13314288 {\fs24\lang2057\langfe1033\langnp2057\insrsid13314288\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid9979214\charrsid8463721 (2) }{\fs24\lang2057\langfe1033\langnp2057\insrsid14358489\charrsid8463721 Upon rec}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 e}{\fs24\lang2057\langfe1033\langnp2057\insrsid14358489\charrsid8463721 i}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 pt of a certificate}{
\fs24\lang2057\langfe1033\langnp2057\insrsid750503\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 referred to in }{\fs24\lang2057\langfe1033\langnp2057\insrsid12284788\charrsid8463721 subsection (1) }{
\fs24\lang2057\langfe1033\langnp2057\insrsid1784386\charrsid8463721 the }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Registrar shall register that partnership upon the }{
\fs24\lang2057\langfe1033\langnp2057\insrsid750503\charrsid8463721 register of }{\fs24\lang2057\langfe1033\langnp2057\insrsid1784386\charrsid8463721 L}{\fs24\lang2057\langfe1033\langnp2057\insrsid750503\charrsid8463721 i}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 mited Partnerships}{\fs24\lang2057\langfe1033\langnp2057\insrsid750503\charrsid8463721  kept for that purpose and issue}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  a }{\fs24\lang2057\langfe1033\langnp2057\insrsid750503\charrsid8463721 certificate of }{\fs24\lang2057\langfe1033\langnp2057\insrsid15737074\charrsid8463721 registration i}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 n the prescribed form.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid15737074\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (3)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
A certificate of registration under the hand and seal}{\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
of the Registrar shall be conclusive evidence that all the requirements of this Act in respect of registration and other matters precedent}{\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 and incidental thereto have been complied with and that the limited partnership referred to therein was duly registered under this Act.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 56.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 Annual}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  certificates of registration}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  (1)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
A certificate of registration issued pursuant to section 55 (2) shall be valid}{\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
and effective for one year from the date of registration specified in that certificate.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Application for re
newal of registration may be made upon:
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1511841 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (a) Filing with the Registrar an application for renewal of registration in the prescribed form;

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1511841 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (b) Payment of the prescribed fee.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (3)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
Subject to section 77 of this Act, no application for renewal of registration pursuant to subsection (2) of this section shall be granted where the application if filed or fee paid after the date of expiry of the last certificate of registration.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (4)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Ever}{
\fs24\lang2057\langfe1033\langnp2057\insrsid1784386\charrsid8463721 y renewal of}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  registration shall be for a period of one year from the date of 
expiry of the last certificate of registration.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 57.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Registration of partnership agreement}
{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 Any person who is a partner may provide the Registrar with a copy of the partnership agreement or any amendment thereto which shall be certified in the manner prescribed and the Registrar shall register that copy as a true copy and file the same.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 
\par 58. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Certificates to be signed by general partners}{\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  (1) After }{\fs24\lang2057\langfe1033\langnp2057\insrsid1784386\charrsid8463721 registration of }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 a limited partnership and before commencement }{\fs24\lang2057\langfe1033\langnp2057\insrsid1784386\charrsid8463721 of business and }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 imme}{\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 diately after the particulars re}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 quired by }
{\fs24\lang2057\langfe1033\langnp2057\insrsid1784386\charrsid8463721 this subsection }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 are changed a general partner of that limited certificate containing the following}{
\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721  particulars, namely:}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1511841 {\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 (a)}{\fs24\lang2057\langfe1033\langnp2057\insrsid1784386\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 The style of the firm under which the partnership is to be conducted;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1511841 {\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 (b)}{\fs24\lang2057\langfe1033\langnp2057\insrsid1784386\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 The names and addresses of all the partners distinguishing the general form the limited partners;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1511841 {\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 (c) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 The}{
\fs24\lang2057\langfe1033\langnp2057\insrsid1784386\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
amount of capital which each limited partner is to contribute (in this Act referred to as the certified sum) and also (if any) the amount contributed by the general partners to the common stock;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1511841 {\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 (d) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
The general nature of the business to be transacted;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1511841 {\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 (e) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
The principal or only place in which }{\field\fldedit{\*\fldinst {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  HYPERLINK http://it.is }{\fs24\lang2057\langfe1033\langnp2057\insrsid4423253\charrsid8463721 {\*\datafield 
00d0c9ea79f9bace118c8200aa004ba90b0200000003000000e0c9ea79f9bace118c8200aa004ba90b1c00000068007400740070003a002f002f00690074002e00690073002f00000000000000000000000000}}}{\fldrslt {\cs15\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
it is}}}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  to be transacted; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1511841 {\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 (f) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
The time when such partnership is to comme}{\fs24\lang2057\langfe1033\langnp2057\insrsid1784386\charrsid8463721 nce and when it is to terminate.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid1511841\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
A certificate signed in accordance with this section may be filed with the Registrar who shall register the same.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid15479883\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 59.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Partners to be liable }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid2309938\charrsid8463721 as general partners for false statements }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 in certificate}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid5727313\charrsid8463721  If any false statement is made in a}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  certificate referred to in section 58 all the persons interested in the limite}{\fs24\lang2057\langfe1033\langnp2057\insrsid2309938\charrsid8463721 d}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  partnership shall be liable for}{\fs24\lang2057\langfe1033\langnp2057\insrsid2309938\charrsid8463721  all the engagements thereof as }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 general partners:}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid2309938\charrsid8463721 Provided that no }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 clerical error or matter not of substance shall be deemed false within the}{\fs24\lang2057\langfe1033\langnp2057\insrsid9905150\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 meaning of this section unless some person is prejudiced thereby, in which case}{\fs24\lang2057\langfe1033\langnp2057\insrsid2309938\charrsid8463721 
 the limited partners shall be liable to the person s}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 o prejudiced.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4684298\charrsid8463721 
\par 60}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 . }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Registered office}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  (1)}{\fs24\lang2057\langfe1033\langnp2057\insrsid2583640\charrsid8463721  T}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4684298\charrsid8463721 he registered office of a}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 limited partnership shall be the address in the Cook Islands of the general partner that is either a registered foreign company, international company or trustee company.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4684298\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
The address for service of any documents upon a limited partnership shall be the registered office of that partnership.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4684298\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 61. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 When limited partner deemed liable}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  If in }{\fs24\lang2057\langfe1033\langnp2057\insrsid4684298\charrsid8463721 carrying}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  on the business of a limited partnership or in any contract connected therewith:
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4684298\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14358489 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (a)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 t}{\fs24\lang2057\langfe1033\langnp2057\insrsid9140269\charrsid8463721 he name of a limited partner is}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 used with that partner}{\fs24\lang2057\langfe1033\langnp2057\insrsid9140269\charrsid8463721 '}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 s consent or privity}{\fs24\lang2057\langfe1033\langnp2057\insrsid4684298\charrsid8463721  
}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 that partner shall be deemed to be a general partner with respect to the }{\fs24\lang2057\langfe1033\langnp2057\insrsid543471\charrsid8463721 contract }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 or matter in which that that partner}{\fs24\lang2057\langfe1033\langnp2057\insrsid543471\charrsid8463721 '}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
s name was so used;}{\fs24\lang2057\langfe1033\langnp2057\insrsid1456372\charrsid8463721  or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14358489 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (b)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid1456372\charrsid8463721 a limited }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 partner makes any contact respecting the concerns of the partnership without express authority }{
\fs24\lang2057\langfe1033\langnp2057\insrsid543471\charrsid8463721 of }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the general partners that limited partner shall be personally liable for that contract.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid1456372\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 62. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 General and limited partners and their liabilities}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  (1) General}{
\fs24\lang2057\langfe1033\langnp2057\insrsid14358489\charrsid8463721 l}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 y partners, shall be jointly and severally responsible }{
\fs24\lang2057\langfe1033\langnp2057\insrsid11028777\charrsid8463721 as }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 general partners }{\fs24\lang2057\langfe1033\langnp2057\insrsid11028777\charrsid8463721 are}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10897038\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid11028777\charrsid8463721 now by law, and limited partners, shall be }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
liable to contribute in money or moneys }{\fs24\lang2057\langfe1033\langnp2057\insrsid11028777\charrsid8463721 worth to the common stock, }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 as capital, the beyond which they s}{
\fs24\lang2057\langfe1033\langnp2057\insrsid11028777\charrsid8463721 h}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 all}{\fs24\lang2057\langfe1033\langnp2057\insrsid11028777\charrsid8463721  not be responsible}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  for any debt of the partnership except}{\fs24\lang2057\langfe1033\langnp2057\insrsid11028777\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
in cases herein provided for.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11028777\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid543471\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
Where there is a dispute as to the worth of a limited}{\fs24\lang2057\langfe1033\langnp2057\insrsid11028777\charrsid8463721  partners contribution being}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 less than the certified sum that dispute}{\fs24\lang2057\langfe1033\langnp2057\insrsid11028777\charrsid8463721  shall be determined by the}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  Court or on application by the parties}{
\fs24\lang2057\langfe1033\langnp2057\insrsid11028777\charrsid8463721  by an arbitrator who shall}{\fs24\lang2057\langfe1033\langnp2057\insrsid10897038\charrsid8463721  be appointed by the}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  Court on such}{\fs24\lang2057\langfe1033\langnp2057\insrsid10897038\charrsid8463721  terms and conditions as it}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 thinks fit.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10897038\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1538531\charrsid8463721 63. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Capital stock not}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid1538531\charrsid8463721  }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 to be withdrawn}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  During the }{\fs24\lang2057\langfe1033\langnp2057\insrsid10897038\charrsid8463721 continuance of any limited partne}{\fs24\lang2057\langfe1033\langnp2057\insrsid16060200\charrsid8463721 
rship no part of a certified sum shall be with}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 drawn, nor shall any division of interest or profit be made so }{\fs24\lang2057\langfe1033\langnp2057\insrsid1915153\charrsid8463721 as to 
}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 reduce such capital below the aggr}{\fs24\lang2057\langfe1033\langnp2057\insrsid16060200\charrsid8463721 egate amount stated in the certific}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ate required by section 58 of this Act.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16060200\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16060200 {\fs24\lang2057\langfe1033\langnp2057\insrsid16060200\charrsid8463721 64}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 . }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid16060200\charrsid8463721 W}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 hen limited partners liable to refund capital withdrawn}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  (1) If any part of such 
capital is withdrawn, or any such division}{\fs24\lang2057\langfe1033\langnp2057\insrsid16060200\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
is made, so that at any time during the continuance or at the termination of the limited partnership the}{\fs24\lang2057\langfe1033\langnp2057\insrsid16060200\charrsid8463721  assets are insufficient to pay the}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  partnership debts, the limited }{\fs24\lang2057\langfe1033\langnp2057\insrsid1005028\charrsid8463721 partners shall be severally }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 liable to refund every sum}{\fs24\lang2057\langfe1033\langnp2057\insrsid16060200\charrsid8463721  received by them respectively in }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 diminution of such capita}{\fs24\lang2057\langfe1033\langnp2057\insrsid16060200\charrsid8463721 l or by way of such interest or profit}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8261390\charrsid8463721 .}{\fs24\lang2057\langfe1033\langnp2057\insrsid16060200\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 All such sums }{\fs24\lang2057\langfe1033\langnp2057\insrsid4726357\charrsid8463721 may be recovered a}{
\fs24\lang2057\langfe1033\langnp2057\insrsid1915153\charrsid8463721 s money had and received by them}{\fs24\lang2057\langfe1033\langnp2057\insrsid4726357\charrsid8463721 
 respectively to the use of the general partners; and may in the case of any judgement being obtained against the general partners, be recovered by the plaintiff against the limited partners, or any of them, by process of execution issued under such judge
ment by leave of the court.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4726357\charrsid8463721 
\par 65. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Suits to be by and against general partners}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721 \endash }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721 (1) Where section }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 66 paragraph (a) applies the limited partner liable }{\fs24\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721 as a general }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 partner may be joined in the action as a defendant }{\fs24\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721 at the discretion }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 of the party suing.
\par 
\par (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Except where section }{\fs24\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721 
66 (a) applies all suits respecting the}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  business of any}{\fs24\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721 
 limited partnership shall be prosecuted by or against the general partners only.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721 
\par 66. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721 V}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 oluntary dissolution}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  (1) A voluntary dissolution of a limited partnership shall}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721 not take p}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 lace before}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 time specified}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 in}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the certificate completed pursuant to section 58 un}{
\fs24\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721 less a notice of dissolution in, }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the prescri}{\fs24\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721 
bed form is signed by a general}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  partner and certified correct by a trustee company.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Every notice of dissolution shall be fi
led with the registrar}{\fs24\lang2057\langfe1033\langnp2057\insrsid1915153\charrsid8463721 .}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721 
\par 67. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Dissolution by Court}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  On application by a partner the Court}{\fs24\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
may order the dissolution of a limited partnership where circumstances have arisen which, in the opi}{\fs24\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721 nion of the court, render it jus}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 t}{\fs24\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
and equitable that the partnership be dissolved.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721 
\par 68. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721 Cas}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 e}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid1312169\charrsid8463721 s }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 not specifically provided for}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  In all cases not hereinbefore otherwise provided for in this Part and if not incons}{\fs24\lang2057\langfe1033\langnp2057\insrsid2325281\charrsid8463721 istent with the provisions of th}
{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 is Part all the members of a limited partnership shall be subject to the liabilities and entitled to the rights of general partners.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2325281\charrsid8463721 
\par 69}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 . }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Accounting}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  The general partners shall be liable to}{\fs24\lang2057\langfe1033\langnp2057\insrsid2325281\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 account to each other and to the limited partners for their management of the partnership concerns as other partners are by law.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2325281\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 7}{\fs24\lang2057\langfe1033\langnp2057\insrsid2325281\charrsid8463721 0}{\fs24\lang2057\langfe1033\langnp2057\insrsid2975445\charrsid8463721 . }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid2975445\charrsid8463721 Frauds b}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 y partners}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 Every partner guilty of any fraud in the affairs of the partnership shall be liable civilly to the party injured to the extent of his damage, and shall also be liable to criminal proceedings for any offence committed.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2975445\charrsid8463721 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13450174 {\fs24\ul\lang2057\langfe1033\langnp2057\insrsid2975445\charrsid8463721 PART IV
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2975445 {\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 APPLICATION OF OTHER ACTS
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2975445 {\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid2975445\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid2975445\charrsid8463721 71. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Interpretation}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  In this part of this Act, unless }{
\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 the context otherwise requires,-}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5324278\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 "Enactment" means any Act of the Parliament of the}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5324278\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Cook Islands, Ordinance, Act of the Parliament o}{
\fs24\lang2057\langfe1033\langnp2057\insrsid1915153\charrsid8463721 f New Zealand in force in the C}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ook Island}{\fs24\lang2057\langfe1033\langnp2057\insrsid5324278\charrsid8463721 
s and any Proclamation, Order, R}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 egulations or Rule of any Islands Council, Ordinance or By}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 law and includes any Act of the Parliament of England}{\fs24\lang2057\langfe1033\langnp2057\insrsid5324278\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 or the Parliament of Great Britain or the Parliament of}{\fs24\lang2057\langfe1033\langnp2057\insrsid5324278\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the United Kingdom being an Act in force in the Coo}{\fs24\lang2057\langfe1033\langnp2057\insrsid5324278\charrsid8463721 k}{
\fs24\lang2057\langfe1033\langnp2057\insrsid1915153\charrsid8463721  I}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 slands, and any }{\fs24\lang2057\langfe1033\langnp2057\insrsid1915153\charrsid8463721 R}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 egulations}{\fs24\lang2057\langfe1033\langnp2057\insrsid1915153\charrsid8463721 ,}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  Rule, Order, o}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5324278\charrsid8463721 r other instrument made thereun}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 der;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid5324278\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid5324278\charrsid8463721 Foreign currency}{
\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid5324278\charrsid8463721  includes notice, coins}{\fs24\lang2057\langfe1033\langnp2057\insrsid1915153\charrsid8463721 ,}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5324278\charrsid8463721  postal notes, money orders, bills or exchange, promissory notes, drafts, cheques, negotiable instruments, letters or credit and }{
\fs24\lang2057\langfe1033\langnp2057\insrsid1915153\charrsid8463721 travellers cheques payable or expressed other than in }{\fs24\lang2057\langfe1033\langnp2057\insrsid5324278\charrsid8463721 
New Zealand currency, and also includes rights and instruments of title to New Zealand money;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid5324278\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid7755291\charrsid8463721 Partnership}{
\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid7755291\charrsid8463721  means an international partnership and a limited partnership and includes each 
of the partners as partners of an international par}{\fs24\lang2057\langfe1033\langnp2057\insrsid1915153\charrsid8463721 tnership or limited partnership;}{\fs24\lang2057\langfe1033\langnp2057\insrsid7755291\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid7755291\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 "Securities" inc}{\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 lu}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 des s}{\fs24\lang2057\langfe1033\langnp2057\insrsid1915153\charrsid8463721 ha}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
res, stock, bonds, debentures, debenture stock, treasury bills and notes, and units or sub}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 units of a}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  unit trust, and also includes deposit receipts in respect of the deposit of securities and documents of}{\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 title of securities but does not include }{\fs24\lang2057\langfe1033\langnp2057\insrsid1915153\charrsid8463721 bills }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
of exchange or,}{\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 promissory notes.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 
\par 72. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 Application}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  of other Acts to partnerships}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 (1) Subject to subsection (2) and (3) of this sec}{\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 tion, no enactment, other than t}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
his Act, the Cook Islands Monetar}{\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 y Board Act 1981, the Offshore B}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 anking Act 1981, the }{
\fs24\lang2057\langfe1033\langnp2057\insrsid14821703\charrsid8463721 I}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 nternational Companies Act 1981}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 82, the }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Offshore Insurance Act 1981}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 82 and the Trustee Companies Act 1981}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 82 shall:

\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 (a) impose}{\fs24\lang2057\langfe1033\langnp2057\insrsid14821703\charrsid8463721 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (i)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 any liability, duty, responsibility, obligation or restriction;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (ii)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 any fee, impost, tax, levy, duty or ex}{\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 c}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ise; or

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (iii)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 any fine or penalty}{\fs24\lang2057\langfe1033\langnp2057\insrsid14821703\charrsid8463721 ;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14821703 {\fs24\lang2057\langfe1033\langnp2057\insrsid14821703\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14821703 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 on a partnership; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 (b) require-}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (i)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the deposit of any moneys in any public account;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (ii)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the filing of any accoun}{\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 ts, returns, reports or records;}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 or}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (ii}{\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 i}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 )}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 the licensing or registration}{
\fs24\lang2057\langfe1033\langnp2057\insrsid14821703\charrsid8463721 ;}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13450174 {\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 by a}{\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 partnership}{
\fs24\lang2057\langfe1033\langnp2057\insrsid14821703\charrsid8463721 .}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid13450174\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2) The restrictions imposed by regulation 5(1) of the Cook Islands Exchange Control Regulations 1948 shall ha}{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
ve no application in respect of-}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4342285 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (a) the taking or sending of any foreign currency or securities out of the Cook Islands by a partner}
{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 or by an officer or employee of a partnership for or on behalf of the partnership, other than }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4342285 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (i)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 where the security is payable in New Zealand money and was not issued by an international company; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4342285 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (ii)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 where the security or foreign currency is owned or controlled by a natural person ordinarily resident in the Cook Islands or a domestic company;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4342285 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (b
) the transfer of the interest of any person in any security by a partnership or by an officer or employee of a partnership for or on behalf}{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721  of the partnership, other than-}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4342285 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (i)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 where the security is payable in New Zealand money and was not issued by an international company; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4342285 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (ii)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 where such person is a natural person ordinarily resident in the Cook Islands or a domestic company;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4342285 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (c) the drawing or nego
tiating of any bill of exchange or promissory note or the transfer of any security or the acknowledgement of any debt or }{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 the making of any payment by a p}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 artnership or by a}{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 n officer or employee of a part}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 nership for or on behalf of the}{\fs24\lang2057\langfe1033\langnp2057\insrsid7359700\charrsid8463721  partnership-}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4342285 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (i)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 as consideration for receiving any payment or acquiring any property elsewhere than in the Cook Islands}{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
 or in New Zeal}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 and; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4342285 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (ii)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 as }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 consideration for acquiring a right, whether actual or contin}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 gent, to receive any paym}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ent or to acquire any property elsewhere than in the Cook Islands or in New Zealand;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4342285 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 (}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 d)}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the creation or transfer of a right, whether actual or contingent, to receive any payment}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 elsewhere than in the Cook Islands disposal or otherwise dealing with property held or payable elsewhere }{
\fs24\lang2057\langfe1033\langnp2057\insrsid7359700\charrsid8463721 than in the Cook Islands }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 or New Zealand, }{\fs24\lang2057\langfe1033\langnp2057\insrsid7359700\charrsid8463721 
or the disposal or otherwise dealing with any money, securities or property held or payable elsewhere than }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 in the }{\fs24\lang2057\langfe1033\langnp2057\insrsid7359700\charrsid8463721 C
}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ook Islands}{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid7359700\charrsid8463721 or New Zealand, }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 by }{\fs24\lang2057\langfe1033\langnp2057\insrsid3501299\charrsid8463721 a partnership or by }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 an officer or}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3501299\charrsid8463721 employee of a partnership for or on }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 behalf of
 the partnership:
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4342285 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (i)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 as consideration for receiving any payment or acquiring any property in the Cook Islands or New Zealand;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4342285 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (ii)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 as consideration for acquiring a right whether}{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
actual or contingent to receive any }{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 payment or acquire any property }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 as aforesaid; or}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4342285 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 (iii) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
as consideration for the discharge of a debt payable in the Cook Islands or New Zealand.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (3}{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 ) A partnership which wishes to-}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4342285 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (a)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 invest in a domestic company;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4342285 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (b)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 acquire assets from a person ordinarily resident in the Cook Islands or a domestic company; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4342285 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (c)}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 carry on business within the meaning of that phrase in the Development Investment Act 1977,
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 shall be subject to the provisions of the}{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721  Development Investment Act 197}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 7: Provided however, that nothing in this subsection shal
l bring into operation the provisions of the Development Investment Act 1977 in relation to a partnership where the only domestic company which}{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the Partnership is dealing with is a trustee company.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (4) It shall be an offence against this Act for a partnership}{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
or an officer or employee of a partnership to take or send, or to cause or permit to be taken or sent, any money or securities out of the Cook Islands which are owned or controlled by a natural person ordinarily resident in the Cook Islands or a domes
tic company other than a trustee company.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4342285 {\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 PART V
\par MISCELLANEOUS
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 73. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Resident beneficiaries}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 The provisions of this Act shall have no application to a partner who is domiciled in the Cook Islands or who is ordinarily resident in the Cook Islands.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 74. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Secrec}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 y}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  (1) Except where the provisions}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3501299\charrsid8463721 of this A}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
ct require and subject to subsection (2) of this section, it shall}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 be}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 an offence}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 for a person to}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 divul}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ge or communicate}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 to}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 any other person information relating to th}{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
e establishment, constitution, b}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 usiness,}{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721  undertaking or affairs of an i}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 nternational or limited partnership.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2) All judicial proceedings other than criminal proceedings relating to international or limited partnership shall, unless ordered otherwise,}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 be heard in camera and no details or the proceedi}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 ngs shall be published by any p}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 erson without leave of the Court or person presiding.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4342285\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 75. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Translations}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  (1) Every document filed with the Registrar}{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721  }
{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 and not in the English language shall be accompanied by a certified translation.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9454447 {\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 (2) A document that is not in the English language and which }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3501299\charrsid8463721 is }{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 not accompanied by a certified translation at the time of filing }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3501299\charrsid8463721 shall not be }{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 accepted for registration by the Registrar.
\par 
\par (3) For the purpose of this section a certified translation }{\fs24\lang2057\langfe1033\langnp2057\insrsid3501299\charrsid8463721 is }{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 a translation into
 the English language, certified as a correct translation, by a translator to the satisfaction of the Registrar.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
\par 76. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 No action to lie against certain person}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3501299\charrsid8463721 \endash }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  Notwithstanding }{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 s}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ection 79 of this Act no action sha}{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 ll lie against the Government o}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 f the}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Cook}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Islands,}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 any }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 statutory body or authority,}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 or}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 a}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 public}{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid15355288\charrsid8463721 or a }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 judicial officer in respect of}{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
 the performance of its or his f}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 unctions or duties under this A}{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 c}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 t.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
\par 77. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 P}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ower of Exemption}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  (1) The Minister may on his own motion or }{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 pu}
{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 rsuant to an application in writing lodged with the Registrar by }{\fs24\lang2057\langfe1033\langnp2057\insrsid15355288\charrsid8463721 an }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 international or limited partnership or a partnership, if it }{\fs24\lang2057\langfe1033\langnp2057\insrsid15355288\charrsid8463721 w}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ere registered would be an interna}{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 tional or limited partnership, e}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 xempt that international or limited partnership or partnership, from all or any of the provisions of this}{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
 Act and any regulations made u}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 nder this Act and may impose such terms and conditions as he}{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721  th}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 inks fit as a condition under which that exemption is granted. An exemption so granted may be revoked or varied by the Minister at any time.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2) In dealing with an application under this section the minister shall not}{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721  be required to act judicially a}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 nd his decision shall in all cases be final.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (3) Any exemption or condition imposed pursuant to subsection (1) of this section, shall tak}{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
e effect as from a date to be d}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ecided by the Minister in his discretion.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 78. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Prohibitions by Minister}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
 (1) The Minister shall have an absolute right of his own motion or otherwise and without assigning reasons to make an order:
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9454447 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (a) prohib
iting the registration of any partnership as an international partnership or limited partnership; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9454447 {\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 (b) }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
directing any international partnership or limited partnership to cease carrying on its business or part of its business immediat}{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 e}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 ly or within such time as may be specified in the order}{\fs24\lang2057\langfe1033\langnp2057\insrsid15355288\charrsid8463721 .}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (2) An order made under this}{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
section may be revoked or varied }{\fs24\lang2057\langfe1033\langnp2057\insrsid15355288\charrsid8463721 by }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 the Minister.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (3) In making an order under this section the Minister shall not }{\fs24\lang2057\langfe1033\langnp2057\insrsid1785910\charrsid8463721 be }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 required to act judicially and such order shall be final.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
\par 79. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 Penalties}{\fs24\lang2057\langfe1033\langnp2057\insrsid8463721  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721  (1) Any person who:
\par 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9454447 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (a) does anything which is for}{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
bidden by or }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 under this Act; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9454447 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (b) omits }{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
to do something required or dire}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 cted by or under this Act; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9454447 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 (c) contravenes or fails to comply with any provisions of this Act.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3028815 {\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12861262\charrsid8463721 shall be guilty of an offence against this Act and shall be liable on conviction to a fine not exceeding $US10,000 or to imprisonment for a term not exceeding 1 year or to both.}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 80.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 Regulations}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3028815\charrsid8463721 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  The Queen}{
\fs24\lang2057\langfe1033\langnp2057\insrsid1785910\charrsid8463721 's Representative may by}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721  Order in Executive counci
l make regulations prescribing all matters and things required or authorised by this Act to be prescribed or which are necessary fo}{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 r carrying out or giving effect }{
\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 to this Act including the prescribing of penalties for breaches of such regulations not exceeding a fine of $US,2000.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9454447 {\fs24\lang2057\langfe1033\langnp2057\insrsid8463721 --------------------------------}{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9454447 {\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9454447 {\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 This Act is administer}{\fs24\lang2057\langfe1033\langnp2057\insrsid8027353\charrsid8463721 
ed by the Cook Islands Monetary Board}{\fs24\lang2057\langfe1033\langnp2057\insrsid9454447\charrsid8463721 .
\par }}