FINANCIAL CORPORATIONS (TRANSFER OF ASSETS AND LIABILITIES) ACT 1993

PART 3 - INCOME TAX RELIEF FOR TRANSFERS  

Division 9 - Continuity of partnerships  

SECTION 27   TRANSFER OF AN INTEREST IN A PARTNERSHIP DOES NOT AFFECT CONTINUITY OF PARTNERSHIP  

27(1)   [Application of section]  

This section applies if an interest in a partnership is transferred.

27(2)   [Partnership continuity not affected]  

For the purposes of the Income Tax Assessment Act 1936 , the transfer does not affect the continuity of the partnership.