Corporations Act 2001
[ CCH Note: Ch 7 will be amended by No 8 of 2022, s 3, Sch 2, by inserting the note, (effective 1 July 2022). The note will read:
(a) obligations that would be imposed on the partnership are imposed instead on each partner, but may be discharged by any of the partners;
(b) any contravention of a provision of this Chapter, or a provision of this Act that relates to a requirement in a provision of this Chapter, that would otherwise be a contravention by the partnership is taken (whether for the purposes of criminal or civil liability) to have been a contravention by each partner who:
(i) aided, abetted, counselled or procured the relevant act or omission; or
761F(2) [ Effect of change in partners]
(ii) was in any way knowingly concerned in, or party to, the relevant act or omission (whether directly or indirectly and whether by any act or omission of the partner).
For the purposes of this Chapter, a change in the composition of a partnership does not affect the continuity of the partnership.761F(3) [ Limitation]
(a) an express or implied contrary intention in a provision or provisions of this Chapter; and
(b) the regulations, which may exclude or modify the effect of those subsections in relation to specified provisions.