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Section 37: Accountability of general partners for private profits

Limited Partnerships Act · PART V: ADMINISTRATION

consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.

37. Accountability of general partners for private profits (1) Except as otherwise provided in the partnership agreement, every general partner shall account to the limited partnership for any benefit derived by him without the consent of the other partners from— (a) any transaction concerning the limited partnership; or (b) any use by him of the property of the limited partnership or name. (2) This section shall also apply to transactions undertaken after a partnership has been dissolved by the death of a partner but before the affairs of the limited partnership have been completely wound up by any surviving partner or by the personal representatives of the deceased partner.

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