Limited Partnerships Act 2008

9 Partnership agreement

(1)

A limited partnership must have a written partnership agreement.

(2)

The partnership agreement is an agreement as to the affairs of the limited partnership and the conduct of its business.

(3)

On registration of the limited partnership, the partnership agreement has effect as a contract between the limited partnership and each partner, and between the partners themselves, under which the limited partnership and each of the partners (including any subsequent partners) agree to observe and perform the agreement so far as it applies to them.

(4)

The partnership agreement has no effect to the extent that it contravenes, or is inconsistent with, this Act.

(5)

The partnership agreement may be amended—

(a)

by a written document signed by or on behalf of each of the limited partnership and the partners; or

(b)

in accordance with the procedure specified in the partnership agreement, if any.