Section 78 of Partnerships Act 16 of 2012: Transitional provisions
Notwithstanding section 77—
(a) a partnership, which has been duly registered under the Partnership’s Act (now repealed) and is in existence at the commencement of this Act (hereinafter called “an existing partnership”) shall be deemed to be a partnership under this Act;
(b) all rights, powers, liabilities and duties, whether arising under any written law or otherwise, which immediately before coming into operation of this Act were vested in, imposed on or enforceable by or against the existing partnership, shall be transferred to, vested in, imposed on or be enforceable by or against the partnership under this Act;
(c) all actions, suits or legal proceedings pending by or against the existing partnership shall be carried under this Act;
(d) the officers and members of the existing partnership in office on the date of the commencement of this Act shall be deemed to be the duly appointed officers and members of the partnership for the purposes of this Act.
Enhance Your Research with Bookmarks and Annotations
Here's how you can use these features:
- To bookmark this page, click the "Bookmark this Page" button below the document title.
- To add an annotation, highlight text in the document and select "Add Annotation" from the toolbar that appears.
- These features are great for organizing your research and keeping track of key information.
- You can view and manage your bookmarks and annotations on your Bookmarks and Annotations page.