Limited Partnerships Act 2008

38 Partnership interest


The partnership interest of a partner—


is the partner’s—


share of the assets of the limited partnership; and


right to receive distributions from the limited partnership; and


right to any other benefit conferred by the partnership agreement; and


includes any liability or other burden of the partner in relation to the limited partnership.


A partner may assign or otherwise dispose of all or part of that person’s partnership interest to—


another partner of the same limited partnership:


any other person if approved by a resolution of the limited partnership.


However, the partnership agreement may extend, vary, restrict, or exclude a partner’s right to assign that person’s partnership interest.