Document ID: chunk:federal_register_of_legislation:C2024C00461:section:227
Version: federal_register_of_legislation:C2024C00461
Segment Type: section
Provision Reference: s 227
Character Range: 288412–289021

227  Partnerships—rights and obligations
 (1) This Act applies to a partnership as if it were a person, but with the changes set out in this section and sections 135, 228 and 229.
 (2) Any right that would otherwise be exercisable by the partnership is exercisable by each partner instead.
 (3) Any obligation that would otherwise be imposed on the partnership:
 (a) is imposed on each partner instead; but
 (b) may be discharged by any of the partners.
 (4) Subject to section 135, the partners are jointly and severally liable to pay an amount that is payable, or becomes payable, in relation to this Act.