Partnership Ordinance of Hk

Chapter: 38 PARTNERSHIP ORDINANCE Long title publish Number magnetic variation Date 30/06/1997 To codify the law relating to partnership. [cf. 1890 c. 39 U.K.] [15 may 1897] (Originally 2 of 1897 (Cap 38, 1950)) role: 1 Short title 30/06/1997 This Ordinance may be cited as the Partnership Ordinance. (Amended 5 of 1924 s. 6) Section: 2 indication 30/06/1997 In this Ordinance, unless the mise en scene some otherwise requires descent (??) includes every trade, occupation, or profession; greet (??) includes every chat up and judge having jurisdiction in the case. Section: Remarks: Adaptation amendments retroactively do - see 25 of 1998 s. 2 3 definition of partnership 25 of 1998 01/07/1997 NATURE OF PARTNERSHIP (1) Partnership is the comparison which subsists amongst persons carrying on a business in common with a view of profit. (2) But the relation between members of any(prenominal) companionship or association which is(a) registered as a company on a lower floor any Ordinance relating to the readjustment of joint-stock companies; or (Amended 50 of 1911; 1 of 1912 Schedule) (b) formed or corporate by or in pursuance of any other Ordinance, or any code or instrument, (Amended 25 of 1998 s. 2) is non a partnership inwardly the meaning of this Ordinance.

Section: 4 Rules for find existence of partnership 30/06/1997 In determining whether a partnership does or does not exist, regard shall be had to the adjacent rules(a) joint tenancy, tenancy in common, joint property, common property, or part self-control does not of itself create a part nership as to anything so held or owned, whe! ther the tenants or owners do or do not share any profits made by the using up thereof; (b) the sharing of piggish returns does not of itself create a partnership, whether the persons sharing such returns permit or have not a joint or common right or interest in any property from which or from the drill of which the returns are derived; (c) the receipt by a person of a share of the profits of a...If you destiny to get a all-encompassing essay, order it on our website: OrderCustomPaper.com

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