EXPLANATORY MEMORANDUM

AUSTRALIAN CAPITAL TERRITORY

PARTNERSHIP ORDINANCE 1963

No. 5 of 1963

	The present law in force in the Australian Capital Territory relating to partnership is the Partnership Act, 1892 of New South Wales.

	The purpose of the proposed Ordinance is to repeal that Act in its application to the Territory and replace it with substantive legislation of the Territory, based upon that Act.

	The Ordinance is not designed to make any substantial changes in the law relating to partnership.  In adapting the New South Wales Act, the alterations made have been for the purpose of either bringing the drafting into line with modern standards or of fitting the provisions more nearly to the circumstantes of the Territory.