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CORPORATIONS ACT 2001 - SECT 115 Restrictions on size of partnerships and associations

CORPORATIONS ACT 2001 - SECT 115

Restrictions on size of partnerships and associations

             (1)  A person must not participate in the formation of a partnership or association that:

                     (a)  has as an object gain for itself or for any of its members; and

                     (b)  has more than 20 members;

unless the partnership or association is incorporated or formed under an Australian law.

Note:          For the effect of a contravention of this section, see section 103.

             (2)  The regulations may specify a higher number that is higher than the number specified in paragraph (1)(b) for the purposes of the application of that paragraph to a particular kind of partnership or association.

             (3)  An offence based on subsection (1) is an offence of strict liability.

Note:          For strict liability , see section 6.1 of the Criminal Code .