Limited Partnerships Act 2008

Distributions to partners

39 Meaning of distribution

In this Act, unless the context otherwise requires, distribution

(a)

means—

(i)

the direct or indirect transfer of money or property of the limited partnership to or for the benefit of a partner; or

(ii)

the incurring of a debt to or for the benefit of a partner; and

(b)

includes a discount to a partner on goods and services provided by the limited partnership.