[{"id":"faaba0e3-de27-4707-947a-1f8ba205678e","order":10,"text":"PARTNERSHIP AGREEMENT","fontSize":"22","textAlign":"center","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"90ca0f1f-3ccc-430f-91e8-0e450071a7bb","order":20,"text":"relating to [Partnership name]","fontSize":"16","textAlign":"center","bold":false,"underline":false,"marginBottom":"30","cflou":false,"active":true},{"id":"5c48aed3-58da-491b-8723-1269555c4a37","order":30,"text":"THIS PARTNERSHIP AGREEMENT is made on [Date].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"378c7ea3-a60e-4b06-b063-33cfaa499e11","order":40,"text":"BETWEEN THE FOLLOWING PERSONS (each a “Partner” and together the “Partners”):","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"26cc9687-05a6-4840-a0af-715922a2b8a1","order":50,"text":"(1) [Full name of the first partner], born on [date of birth], of [Address], [Occupation] (the “First Partner”);","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"08fa29ee-df7f-49ce-8a4c-7305bac9ec73","order":60,"text":"(2) [Full name of the second partner], born on [date of birth], of [Address], [Occupation] (the “Second Partner”);","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"cbd11f24-5002-48ac-bb52-762776f01fd4","order":70,"text":"(3) [Full name of the third partner], born on [date of birth], of [Address], [Occupation] (the “Third Partner”);","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a62e3356-29fb-4f95-b33f-79618e856be7","value":"2","type":"remove","operator":"="}]},{"id":"1b01058f-5e1d-4bd6-b90f-d643e9a32565","order":80,"text":"(4) [Full name of the fourth partner], born on [date of birth], of [Address], [Occupation] (the “Fourth Partner”).","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true,"displayConditions":[{"field":"a62e3356-29fb-4f95-b33f-79618e856be7","value":"2","type":"remove","operator":"="},{"field":"a62e3356-29fb-4f95-b33f-79618e856be7","value":"3","type":"remove","operator":"="}]},{"id":"4bcf26e1-9751-471e-bd66-652ae665cdaf","order":90,"text":"RECITALS","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"dafd305c-a2c5-4f22-a99e-78922331c771","order":100,"text":"A. The Partners wish to carry on business together in partnership under the firm name [Partnership name] on the terms set out in this agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"709da527-e7f1-488d-907e-0583f0a40458","order":110,"text":"B. The business is that of [description of the business].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"9ec09cb9-80e1-4827-8b61-42353861c274","order":120,"text":"C. This agreement records the terms on which the Partners will conduct the partnership and governs their rights and obligations as between themselves. To the extent this agreement is silent, the Partnership Act in force in [State/Territory] applies.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"1bfff1b3-ea54-4ce1-b5aa-7f89781f8791","order":130,"text":"IT IS AGREED as follows:","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"6a4a6eaa-5cfc-4b86-b9a5-46b4c46c4db3","order":140,"text":"DEFINITIONS AND INTERPRETATION","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"10"},{"id":"65458b9d-3cad-493d-a793-8b771fe15833","order":150,"text":"In this agreement, unless the context otherwise requires:","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"ae5014a6-0d29-4307-89cd-a45339edcf27","order":160,"text":"“Business” means the business described in Recital B and any other business the Partners agree in writing to carry on together;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"f1dc3e7e-7193-4554-a1d7-39dc0c2545a5","order":170,"text":"“Business Day” means a day that is not a Saturday, Sunday or public holiday in the place where an act is to be performed or a notice is to be given;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"5d1d8741-34f3-4733-a42e-a30e61e71ad7","order":180,"text":"“Confidential Information” means all information of or relating to the Partnership or the Business that is not in the public domain, including client and supplier lists, pricing, financial information, know-how, methods and trade secrets;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"a084731e-9d60-43d4-9769-a0e21e69d9d3","order":190,"text":"“Insolvency Event” means, in respect of a Partner, that the Partner becomes bankrupt, is unable to pay that Partner's debts as and when they fall due, enters into any arrangement or composition with creditors, or has a trustee or controller appointed over any of that Partner's property;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"d3fd4298-110a-4bf2-a548-5b478420c597","order":200,"text":"“Outgoing Partner” means a Partner who ceases to be a partner by retirement, expulsion, death or permanent incapacity;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"b6437053-d5f7-44f3-9894-9c7928776b76","order":210,"text":"“Partnership” means the partnership constituted by this agreement;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"68e352be-530a-4347-a647-0a784f4e4455","order":220,"text":"“Partnership Act” means the Partnership Act in force in the State or Territory identified in the Governing Law section of this agreement, as amended from time to time;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"a6540a57-fea8-4f03-8a70-ad01db7f3516","order":230,"text":"“Partnership Property” has the meaning given in the section headed Partnership Property, Goodwill and Intellectual Property;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"e2f1f3dd-32e6-434d-b9fa-ea91479af87d","order":240,"text":"“Share” means, in respect of a Partner, that Partner's proportionate interest in the capital, profits, losses and assets of the Partnership as determined under this agreement;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"b5d54838-77fe-4cca-a85c-2a6ac51a93ae","order":250,"text":"references to a person include an individual, firm or body corporate; the singular includes the plural and vice versa; headings are for convenience only and do not affect interpretation; and a reference to a statute includes any amendment or replacement of it and any subordinate legislation made under it.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"26cc170c-82f2-47fe-8bd6-a011771b2e8d","order":260,"text":"1. FORMATION AND NAME OF THE PARTNERSHIP","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S01"},{"id":"593c4956-3cb0-4eb9-b8dd-83aa5242d643","order":270,"text":"The Partners agree to carry on the Business together in partnership under the firm name [Partnership name], or such other name as the Partners may unanimously agree in writing.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"286c2e50-d2ea-41d9-a45d-d434dc3ea3f5","order":280,"text":"The relationship of the Partners is that of a general partnership. Nothing in this agreement constitutes any Partner the agent of another otherwise than for the purposes of the Business, and no Partner is a partner in any other business of another Partner.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"e057ca70-480a-4a12-85cf-6eda1581fc48","order":290,"text":"Each Partner must ensure that any business name used by the Partnership is registered as required by law and that all statutory registrations, including for an Australian Business Number and, where applicable, for goods and services tax, are obtained and maintained.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"69265346-d0cf-4f8a-96b8-6743a5c5e591","order":300,"text":"2. BUSINESS AND PRINCIPAL PLACE OF BUSINESS","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S02"},{"id":"3864484a-e9b6-4637-a43f-ac5ecad8d2ac","order":310,"text":"The Business of the Partnership is [description of the business], together with all activities incidental or conducive to it.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"bb8c4c4a-5a22-4cca-948d-bb4d20fe8dc5","order":320,"text":"The principal place of business of the Partnership is [principal place of business], or such other place or places as the Partners may agree.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"75817cec-6018-4f7a-ab19-30234644f43e","order":330,"text":"The Partnership may not, without the unanimous written consent of the Partners, carry on any business materially different from the Business.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"b6b46ccf-cd87-4827-8740-48e456b4df19","order":340,"text":"3. COMMENCEMENT AND TERM","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S03"},{"id":"9e948786-9297-40a4-8b28-ca10945b3b54","order":350,"text":"The Partnership commences on [commencement date] and, subject to earlier dissolution in accordance with this agreement or by operation of law, will [continue until dissolved / continue for a fixed term].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"e2960ccd-ec44-4101-95de-f7af9221d3c5","order":360,"text":"Where a fixed term applies, that term is [number] years from the commencement date. If the Partners continue the Business after the expiry of the fixed term without a new agreement, the Partnership continues on the terms of this agreement so far as they are consistent with a partnership at will.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"cd8a602f-d80d-4ffc-8e7a-8ef685cf8949","value":"continue for a fixed term as set out below unless dissolved earlier in accordance with this agreement","type":"add","operator":"="}]},{"id":"bb1974a8-95dd-4cfc-b992-85d4c17f2c97","order":370,"text":"4. CAPITAL CONTRIBUTIONS","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S04"},{"id":"32ad34c8-656f-4e41-a3e8-c1d5ead19f01","order":380,"text":"Each Partner must contribute to the capital of the Partnership the amount set opposite that Partner's name.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"c8ce901c-2bbe-4998-91bf-625f77adbe57","order":390,"text":"The First Partner must contribute AUD $[amount].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"c1b6cf38-83da-4b80-8579-8442be28d6b0","order":400,"text":"The Second Partner must contribute AUD $[amount].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"90ca412f-cd2c-4a07-800d-4ce0c59424cd","order":410,"text":"The Third Partner must contribute AUD $[amount].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a62e3356-29fb-4f95-b33f-79618e856be7","value":"2","type":"remove","operator":"="}]},{"id":"319a8c3d-aa92-4ec2-a01d-02b805b6ef24","order":420,"text":"The Fourth Partner must contribute AUD $[amount].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a62e3356-29fb-4f95-b33f-79618e856be7","value":"2","type":"remove","operator":"="},{"field":"a62e3356-29fb-4f95-b33f-79618e856be7","value":"3","type":"remove","operator":"="}]},{"id":"dba8d54d-0a6e-4d2e-8e51-c4780e72b8d5","order":430,"text":"The capital of the Partnership belongs to the Partners in the proportions in which it was contributed. No Partner may withdraw any part of that Partner's capital without the consent of all the Partners.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"acf5b34b-f0c6-4c82-ae29-d5c340965414","order":440,"text":"If further capital is required for the Business, it must be contributed by the Partners in the same proportions as their entitlement to share in profits, unless the Partners unanimously agree otherwise in writing. No Partner is obliged to contribute further capital except as so agreed.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"aaa2565e-524c-4265-85ca-0f1772865246","order":450,"text":"5. CAPITAL ACCOUNTS, ADVANCES AND INTEREST","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S05"},{"id":"a3c0a31f-9dfc-459f-b4a5-e7a3ba0d48b3","order":460,"text":"A separate capital account and a separate current account must be maintained in the books of the Partnership for each Partner. Capital contributions are credited to the capital account; profits, losses, drawings and other dealings are recorded in the current account.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"c30e286c-83a6-4114-ab72-40088a3ddc04","order":470,"text":"Interest is payable on each Partner's capital account and on any advance (loan) made by a Partner to the Partnership beyond that Partner's agreed capital, at the rate of [rate]% per annum, such interest to be treated as an expense of the Partnership and paid before the division of profits.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"20607318-2f81-4079-87f1-78cd153db30e","value":"yes","type":"add","operator":"="}]},{"id":"1c9cf8b5-2430-4920-849d-bd91deab17fb","order":480,"text":"Except as expressly provided in this agreement, no Partner is entitled to interest on that Partner's capital before the ascertainment of profits.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"20607318-2f81-4079-87f1-78cd153db30e","value":"no","type":"add","operator":"="}]},{"id":"9df8572e-95f2-4c7a-badb-c8f590a9a201","order":490,"text":"Where a Partner, with the consent of the other Partners, advances money to the Partnership beyond that Partner's agreed capital, the advance is a debt due from the Partnership carrying interest at [rate]% per annum and is repayable in priority to any distribution of capital on dissolution.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"20607318-2f81-4079-87f1-78cd153db30e","value":"yes","type":"add","operator":"="}]},{"id":"0d59b3de-744b-4fa6-95e8-f55077698ce1","order":500,"text":"Where a Partner advances money to the Partnership beyond that Partner's agreed capital with the consent of the other Partners, the advance is a debt due from the Partnership and, in the absence of agreement as to interest, carries interest at the rate provided by the Partnership Act, and is repayable in priority to any distribution of capital on dissolution.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"20607318-2f81-4079-87f1-78cd153db30e","value":"no","type":"add","operator":"="}]},{"id":"59866069-3d43-41a3-ad78-af54e3cbf808","order":510,"text":"6. PROFITS, LOSSES AND DRAWINGS","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S06"},{"id":"c38c5395-0c70-4e64-9a97-fd7cfe5bed05","order":520,"text":"Subject to this agreement, the net profits of the Partnership for each financial year, and likewise its losses, are to be divided between the Partners as follows.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"188cff21-bdf7-468c-a74d-8442607f5ab5","order":530,"text":"The profits and losses are to be divided between the Partners in equal shares.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"7e8a8b12-aeca-45a1-a8c5-f00fe23e98af","value":"equal","type":"add","operator":"="}]},{"id":"1de9f88f-92fb-4b1d-af34-f1f7630a0f0c","order":540,"text":"The First Partner is entitled to [%]% of the profits and must bear the same proportion of the losses.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"7e8a8b12-aeca-45a1-a8c5-f00fe23e98af","value":"percentage","type":"add","operator":"="}]},{"id":"1ff2c2fa-28b7-4f98-a5e9-02a9d635944e","order":550,"text":"The Second Partner is entitled to [%]% of the profits and must bear the same proportion of the losses.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"7e8a8b12-aeca-45a1-a8c5-f00fe23e98af","value":"percentage","type":"add","operator":"="}]},{"id":"bd5b306c-6194-4933-8872-f469ee88f631","order":560,"text":"The Third Partner is entitled to [%]% of the profits and must bear the same proportion of the losses.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"7e8a8b12-aeca-45a1-a8c5-f00fe23e98af","value":"percentage","type":"add","operator":"="},{"field":"a62e3356-29fb-4f95-b33f-79618e856be7","value":"2","type":"remove","operator":"="}]},{"id":"7e34b957-eec6-4e36-8d8c-280d06cb9437","order":570,"text":"The Fourth Partner is entitled to [%]% of the profits and must bear the same proportion of the losses.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"7e8a8b12-aeca-45a1-a8c5-f00fe23e98af","value":"percentage","type":"add","operator":"="},{"field":"a62e3356-29fb-4f95-b33f-79618e856be7","value":"2","type":"remove","operator":"="},{"field":"a62e3356-29fb-4f95-b33f-79618e856be7","value":"3","type":"remove","operator":"="}]},{"id":"5c8ee6bd-f192-44c6-9c92-48003dca7b83","order":580,"text":"The Partners must ensure that the proportions in which profits are shared total 100%. Losses, including losses of capital, are to be borne by the Partners in the same proportions as they share profits.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"489a61e2-b809-4b29-b5de-dbbd6147b8fc","order":590,"text":"Each Partner may draw from the Partnership, on account of that Partner's anticipated share of profits, an amount not exceeding AUD $[amount] per month, or such other amount as the Partners may agree. If, on ascertainment of the profits for a financial year, a Partner has drawn more than that Partner's share, the excess must be repaid to the Partnership within 30 days of demand.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"a48fe0d5-ff91-443b-901d-2e2f4a775f19","order":600,"text":"The profits of each financial year must be ascertained after providing for all expenses, outgoings, depreciation and reserves the Partners consider prudent, and after crediting or debiting each Partner's current account accordingly.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"32599fe0-5362-4570-83c2-7a7102b9d46b","order":610,"text":"7. MANAGEMENT AND DECISION-MAKING","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S07"},{"id":"e5014ae9-c74b-4f24-81af-d97ab54be4e1","order":620,"text":"Each Partner must devote such time and attention to the Business as it reasonably requires and must diligently and faithfully employ themselves in the Business and use their best endeavours to promote its interests.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"69e29805-3d43-4491-a852-77cad69203d2","order":630,"text":"All Partners are entitled to take part in the management of the Business. Subject to the matters reserved for unanimous decision below, questions arising in the ordinary course of the Business are decided by a majority of the Partners, each Partner having one vote.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"723bbe01-46f3-4e09-aaea-bcaf8654e9d8","order":640,"text":"The following matters require the unanimous consent of all the Partners: (a) changing the nature of the Business; (b) admitting a new partner; (c) expelling a partner; (d) borrowing money or giving any guarantee or security in the name of the Partnership beyond the ordinary course of the Business; (e) acquiring or disposing of any asset of substantial value; (f) commencing or settling litigation other than debt recovery in the ordinary course; (g) amending this agreement; and (h) dissolving the Partnership.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"d56b66b9-81b9-4d3b-bb7f-58ddcb26af72","order":650,"text":"No Partner may, without the consent of the other Partners: (a) engage or dismiss any employee otherwise than in the ordinary course; (b) lend money or give credit on behalf of the Partnership other than in the ordinary course; (c) enter into any commitment binding the Partnership beyond the ordinary course of the Business; or (d) compromise or release any debt owed to the Partnership except for full value.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"3ed41d23-23d4-4eb1-b964-cec7d8a8d777","order":660,"text":"The Partners must meet at least once in each quarter to review the conduct and financial position of the Business. A written record of decisions taken must be kept.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"2c1f8570-1c28-4336-ac0d-7d0685e2a406","order":670,"text":"8. DEADLOCK","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S08"},{"id":"1ee1cff8-dc90-42ce-bd90-9c5d71247fcc","order":680,"text":"A deadlock arises if a matter requiring a decision of the Partners is put to the Partners on two occasions not less than seven days apart and, on each occasion, the Partners are unable to reach the majority or unanimity required by this agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"4cbbcdb1-e196-42cb-8190-d3f7e030391a","order":690,"text":"On a deadlock, any Partner may give the others written notice referring the matter to the dispute resolution procedure set out in the Dispute Resolution section, and the Partners must comply with that procedure before taking any further step in relation to the deadlocked matter.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"0627a780-cb98-4e9a-a9e3-b221b5a230ec","order":700,"text":"If the deadlock concerns a matter fundamental to the continuation of the Business and is not resolved within 30 days after mediation has concluded, any Partner may by written notice to the others elect to treat the deadlock as a ground for dissolution of the Partnership, in which case the Partnership is wound up in accordance with this agreement and the Partnership Act. The Partners must at all times exercise their powers in good faith and in the best interests of the Partnership so as to avoid deadlock where reasonably possible.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"7a2355d7-b77f-473d-9e95-16fcfeef6ea4","order":710,"text":"9. BANKING AND FINANCIAL MATTERS","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S09"},{"id":"3d948715-4f8f-4562-a66e-2ebc57785a8c","order":720,"text":"The Partnership must maintain one or more bank accounts in the name of the Partnership with [bank] or such other bank as the Partners may agree. All money received by or on behalf of the Partnership must be paid into that account without delay.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"045ff847-b116-4ebe-8603-b096b9f503ca","order":730,"text":"Cheques drawn on, and withdrawals and other dealings with, the Partnership account must be signed or authorised by [signatories].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"267297de-e920-42fa-b609-917b261662e4","order":740,"text":"The Partnership must comply with all its taxation obligations, including in respect of income tax, goods and services tax and, where it has employees, pay as you go withholding and superannuation guarantee obligations. Each Partner remains individually responsible for the income tax payable on that Partner's share of the profits.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"cc573e67-3379-4284-b01d-2dca5fc33d11","order":750,"text":"10. INSURANCE","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S10"},{"id":"e29a3954-ecec-452f-ad6d-858f9a99acf2","order":760,"text":"The Partners must effect and maintain, at the expense of the Partnership, all insurances that a prudent business of the same kind would maintain, including public liability insurance, professional indemnity insurance (where the Business involves the provision of professional services), insurance of the Partnership Property against loss or damage, and any insurance required by law such as workers compensation insurance.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"c4bae2ea-8555-4196-bd8c-a8b3927e979c","order":770,"text":"Each policy must be maintained with a reputable insurer for an amount and on terms the Partners consider adequate and reasonable. No Partner may do or omit to do anything that may render any such policy void or voidable or that may increase the premium payable.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"cdfd617f-a881-4ac4-bfbb-7af37727672e","order":780,"text":"The Partners may, if they agree, effect life insurance or total and permanent disability insurance on the life of each Partner to fund the payment of an Outgoing Partner's Share on death or permanent incapacity. Any proceeds received for that purpose are to be applied towards the amount payable to the Outgoing Partner or that Partner's estate under this agreement, and any excess belongs to the Partnership.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"a503a32b-2a35-4533-8577-fcb3ee409f1a","order":790,"text":"11. BOOKS OF ACCOUNT AND FINANCIAL YEAR","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S11"},{"id":"1af54b3d-2b82-4116-90f9-1460dc60baac","order":800,"text":"Proper books of account must be kept at the principal place of business recording all transactions of the Partnership. Each Partner has a right of access to, and may inspect and copy, the books at any reasonable time.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"47a0affd-100f-4116-b3c3-4e1a5572be0f","order":810,"text":"The financial year of the Partnership ends on [financial year end] in each year. As soon as practicable after the end of each financial year, a balance sheet and profit and loss account must be prepared showing the financial position of the Partnership and the amount due to or from each Partner.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"aa9e3cab-d6e6-4c16-926b-d8563d88363e","order":820,"text":"The accounts of the Partnership are to be prepared by [accountant] or such other accountant as the Partners may agree. When signed by all the Partners, the accounts are binding on them except for any manifest error notified within three months of signature.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"f8b58914-da2f-4ca2-af63-138fcfb7385f","order":830,"text":"12. DUTIES AND OBLIGATIONS OF THE PARTNERS","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S12"},{"id":"f836c27e-1902-4bd9-a780-a15542546f5f","order":840,"text":"Each Partner must at all times: (a) act in the utmost good faith towards the other Partners in all dealings affecting the Partnership; (b) render true accounts and full information of all things affecting the Partnership to the other Partners; and (c) account to the Partnership for any benefit derived without consent from any transaction concerning the Partnership or from any use of its property, name or business connection.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"8edc32df-9bda-4edc-bee6-e28d6c22bac3","order":850,"text":"No Partner may, without the consent of the other Partners, carry on or be engaged or interested in any business that competes with the Business. A Partner who carries on a competing business without consent must account for and pay over to the Partnership all profits made by that Partner in that business.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"34ad9631-2444-4c51-abde-1da4ccfa7ced","order":860,"text":"Each Partner must punctually pay that Partner's separate debts and indemnify the Partnership and the other Partners against them and against all proceedings, costs and claims in respect of them.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"58b8600d-14cb-4c67-978c-1929d7833799","order":870,"text":"Each Partner must observe this agreement and the Partnership Act and must not, without consent, do any act by which the property or credit of the Partnership may be endangered.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"309e7ac4-8518-47e1-a158-0e2fa95da910","order":880,"text":"13. PARTNERSHIP PROPERTY, GOODWILL AND INTELLECTUAL PROPERTY","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S13"},{"id":"2ad41c71-2a87-4bff-a71c-ec2eb00ca5d7","order":890,"text":"All property, rights and interests acquired with money belonging to the Partnership or in the course of the Business, and all goodwill of the Business, are Partnership Property and must be held and applied by the Partners exclusively for the purposes of the Partnership and in accordance with this agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"6bf02194-8033-4f2f-80fb-5d982acb97cb","order":900,"text":"All intellectual property created by a Partner in the course of, or for the purposes of, the Business is Partnership Property and vests in the Partners as Partnership Property. Each Partner must do all things necessary to give effect to this clause.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"d843f10c-b332-4ff9-8268-0eb25090b9d2","order":910,"text":"The goodwill of the Business belongs to the Partnership. On a Partner ceasing to be a partner, that Partner has no right to use the firm name or to solicit the clients or customers of the Business except as this agreement permits.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"9a25dedf-1dd7-4480-b103-b8cae8907018","order":920,"text":"14. ADMISSION OF NEW PARTNERS","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S14"},{"id":"dc6d1b37-9e0c-4810-be69-888f73d33e59","order":930,"text":"A new partner may be admitted only with the unanimous written consent of all the Partners and on that person executing a deed agreeing to be bound by this agreement (with any agreed amendments).","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"79606574-c816-4d74-8af8-f5f63419d799","order":940,"text":"On admission, the capital, profit share and other entitlements of the continuing Partners are adjusted as the Partners unanimously agree, and this agreement applies to the new partner as if named in it as a Partner from the date of admission.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"b76280d5-a55f-49c3-b787-fc643b67b533","order":950,"text":"15. RETIREMENT, EXPULSION, DEATH AND INCAPACITY","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S15"},{"id":"a298702d-7051-4621-949f-94ce701a7ebb","order":960,"text":"A Partner may retire from the Partnership by giving not less than [number] months' written notice to the other Partners, the retirement to take effect at the end of the notice period.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"ff880adf-c2b4-470c-8c57-f1f98d43ef6a","order":970,"text":"The Partners may expel a Partner by unanimous decision of the other Partners if that Partner: (a) commits a serious or persistent breach of this agreement not remedied within 30 days of written notice; (b) suffers an Insolvency Event; (c) is convicted of an offence involving dishonesty or that materially affects the Business; (d) becomes permanently incapable of performing that Partner's duties; or (e) does or permits any act that is a ground for dissolution by the Court under the Partnership Act.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"d592b134-2b73-4a98-b44a-d83f585aec5d","order":980,"text":"A Partner who is expelled is treated as retiring on the date of expulsion. Expulsion may only be exercised in good faith and after that Partner has been given a reasonable opportunity to be heard.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"2cbaadcc-47b1-4d0c-81d6-ee0f44b22813","order":990,"text":"On the death of a Partner, or where a Partner becomes permanently incapable of managing that Partner's affairs, that Partner is treated as having retired on the date of death or of a determination of permanent incapacity, and the following section applies.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"75b8b2ab-7e9e-4418-8212-b83486ade082","order":1000,"text":"16. CONSEQUENCES OF A PARTNER CEASING TO BE A PARTNER","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S16"},{"id":"bdbd93ec-cf63-48ba-86b6-dc8e501ba809","order":1010,"text":"On a Partner ceasing to be a partner by retirement, expulsion, death or permanent incapacity (an “Outgoing Partner”), the Partnership as between the Outgoing Partner and the continuing Partners is dissolved, but the Business is not wound up. The continuing Partners are entitled to continue the Business in partnership under the same firm name and to take over all Partnership Property, subject to paying out the Outgoing Partner's Share in accordance with this section.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"317a2843-ea4f-441d-8664-f8f0869cc63e","value":"continue","type":"add","operator":"="}]},{"id":"6d5fccc8-4c4f-4b31-8b1e-43b98d04e04a","order":1020,"text":"The Share of the Outgoing Partner is the amount standing to the credit of that Partner's capital and current accounts as at the date of cessation, together with that Partner's proportion of any undrawn profits and of the goodwill and any unrealised increase in the value of Partnership Property, less any amount owing by that Partner to the Partnership, and is determined in accordance with the section headed Valuation of an Outgoing Partner's Share.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"317a2843-ea4f-441d-8664-f8f0869cc63e","value":"continue","type":"add","operator":"="}]},{"id":"d3fcbb03-1933-40e1-a444-8fd3fbd62210","order":1030,"text":"The continuing Partners must pay the Outgoing Partner (or that Partner's legal personal representative) the amount of the Outgoing Partner's Share, without interest, by equal monthly instalments over a period of [number] months from the date of cessation, or earlier if the continuing Partners elect. The Outgoing Partner must execute all documents reasonably required to transfer that Partner's interest to the continuing Partners.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"317a2843-ea4f-441d-8664-f8f0869cc63e","value":"continue","type":"add","operator":"="}]},{"id":"966852d6-1694-4faa-9c4a-059b4695899f","order":1040,"text":"With effect from the date of cessation, the continuing Partners must indemnify the Outgoing Partner (and that Partner's estate) against all debts and liabilities of the Partnership then existing or afterwards arising in the course of the Business, other than liabilities arising from that Partner's own default.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"317a2843-ea4f-441d-8664-f8f0869cc63e","value":"continue","type":"add","operator":"="}]},{"id":"6c624d75-3330-4429-abae-e69c3b7caaeb","order":1050,"text":"On a Partner ceasing to be a partner by retirement, expulsion, death or permanent incapacity, the Partnership is dissolved and its affairs must be wound up in accordance with this section and the Partnership Act.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"317a2843-ea4f-441d-8664-f8f0869cc63e","value":"dissolve","type":"add","operator":"="}]},{"id":"de47f97b-ab5b-4ce2-aac3-af7c80189d34","order":1060,"text":"On dissolution, the Business must be wound up as promptly as is consistent with obtaining the best price. Any Partner may require the Business, including its goodwill, to be sold, whether to a third party or to one or more of the Partners.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"317a2843-ea4f-441d-8664-f8f0869cc63e","value":"dissolve","type":"add","operator":"="}]},{"id":"9e580967-67bb-4ca0-80ff-8194bc1fab02","order":1070,"text":"The assets of the Partnership, including any money contributed to make good losses of capital, must be applied in the following order: first, in paying the debts and liabilities of the Partnership to persons who are not Partners; secondly, in paying to each Partner rateably any advance made by that Partner beyond that Partner's capital; thirdly, in paying to each Partner rateably that Partner's capital; and finally, the surplus (if any) is to be divided among the Partners in the proportions in which they share profits.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"317a2843-ea4f-441d-8664-f8f0869cc63e","value":"dissolve","type":"add","operator":"="}]},{"id":"8a32b977-edf7-4b02-9dc7-f65de2fea88a","order":1080,"text":"Losses, including losses and deficiencies of capital, must be borne by the Partners in the proportions in which they are entitled to share profits.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"317a2843-ea4f-441d-8664-f8f0869cc63e","value":"dissolve","type":"add","operator":"="}]},{"id":"c9db3fc8-f54f-47e4-8f18-a97e4b4eeec3","order":1090,"text":"17. VALUATION OF AN OUTGOING PARTNER'S SHARE","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S17"},{"id":"8127acef-4954-44bc-a782-55c42c92bab6","order":1100,"text":"Where the Share of an Outgoing Partner is to be determined under this agreement, it is to be valued as at the date the Partner ceases to be a partner (the “Valuation Date”) on the basis that the Business is a going concern, unless the Business is in fact being wound up, in which case it is valued on a realisation basis.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"42abb6ad-79b7-4e1a-87cd-5d33219a93e9","order":1110,"text":"The value of the Outgoing Partner's Share is to be agreed between the Outgoing Partner (or that Partner's legal personal representative) and the continuing Partners within 30 days after the Valuation Date. Failing agreement within that period, the value is to be determined by an independent expert.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"f905225c-e355-4bd8-965d-845820656a9b","order":1120,"text":"The independent expert is to be a chartered accountant or registered business valuer agreed between the parties or, failing agreement within a further 14 days, nominated at the request of any party by the President for the time being of the professional accounting body of which the Partnership's accountant is a member. The expert acts as an expert and not as an arbitrator.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"71cb3f8a-eade-4c5d-8121-8c9bf709397e","order":1130,"text":"In determining the value, the expert must take into account the capital and current account balances of the Outgoing Partner, that Partner's proportion of the net value of the Partnership Property and of the goodwill of the Business, the work in progress and book debts of the Partnership as at the Valuation Date, and any amount owing by or to the Outgoing Partner, and must value goodwill (if any) on a fair and reasonable basis having regard to the nature of the Business.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"546d3836-261b-4cde-96a9-cbd7f6a7dae5","order":1140,"text":"The determination of the expert is, in the absence of manifest error, final and binding on the parties. The costs of the expert are to be borne by the Partnership and the Outgoing Partner in equal shares, unless the expert determines otherwise having regard to the conduct of the parties.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"c3d909ca-4ec8-43c9-8e87-4662bf3f06b2","order":1150,"text":"18. RESTRAINT OF TRADE AND NON-SOLICITATION","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a44710e7-9832-41b5-a7e8-f5b801629b14","value":"include","type":"add","operator":"="}],"marginTop":"20","sectionNum":"S18"},{"id":"2b4707e9-3f05-4936-9fd9-054a3859acce","order":1160,"text":"A Partner who ceases to be a partner must not, for a period of [number] months after the date of cessation, within [area], directly or indirectly, whether alone or with or through any other person, and whether as principal, partner, director, employee, consultant, agent or shareholder: carry on or be engaged, concerned or interested in any business that competes with the Business; canvass, solicit or entice away, or endeavour to canvass, solicit or entice away, any client or customer of the Partnership with whom that Partner had material dealings in the 12 months before cessation; solicit or entice away any employee or contractor of the Partnership; or use the firm name or any name or mark likely to be confused with it.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a44710e7-9832-41b5-a7e8-f5b801629b14","value":"include","type":"add","operator":"="}]},{"id":"94dc0665-a751-4519-b430-ea637edcff86","order":1170,"text":"Each restraint set out above as to period, area and activity is a separate and independent restraint. If any restraint is held to be unreasonable or unenforceable but would be valid if part of its wording were deleted or its period, area or scope reduced, it applies with such modification as is necessary to make it valid and enforceable. The Partners acknowledge that the restraints are reasonable and no wider than is necessary to protect the goodwill and legitimate business interests of the Partnership, and that damages alone would not be an adequate remedy, so that the Partnership is entitled to seek injunctive relief for any breach or threatened breach.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a44710e7-9832-41b5-a7e8-f5b801629b14","value":"include","type":"add","operator":"="}]},{"id":"31ac38da-2c18-4deb-a932-ad9b91ad34ef","order":1180,"text":"19. CONFIDENTIALITY","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S19"},{"id":"dc485a4f-9945-4714-855c-7b062d4830dc","order":1190,"text":"Each Partner must keep confidential, both during the Partnership and after ceasing to be a partner, all Confidential Information of the Partnership, and must not use or disclose any Confidential Information except for the proper purposes of the Business or as required by law. This obligation does not apply to information that is or becomes public otherwise than through a breach of this agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"f5bfc02e-069a-4e28-9492-0a58d2248824","order":1200,"text":"20. INDEMNITIES AND LIMITATION OF LIABILITY","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S20"},{"id":"a9eed076-fdda-4414-8c90-d9f34c301799","order":1210,"text":"The Partnership must indemnify each Partner in respect of payments made and personal liabilities incurred by that Partner in the ordinary and proper conduct of the Business, or in or about anything necessarily done for the preservation of the Business or Partnership Property.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"42c3a08d-9fd2-42d2-9629-239b770601b2","order":1220,"text":"Each Partner must indemnify the Partnership and each other Partner against any loss, liability or expense arising from that Partner's fraud, wilful default, gross negligence or unauthorised act, or from any breach by that Partner of this agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"a795a224-8128-4e3a-9aea-fba442c67d8e","order":1230,"text":"As between the Partners, the liability of the Partners for the debts and obligations of the Partnership is borne in the proportions in which they share profits. Nothing in this agreement limits the liability of the Partners to third parties, for whom each Partner is jointly and (in the case of wrongful acts) severally liable to the extent provided by the Partnership Act.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"3d485f2b-6744-4d59-a766-3daafc111c0e","order":1240,"text":"21. DISPUTE RESOLUTION","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S21"},{"id":"070c152d-6b16-43c1-8276-de79fc65f7da","order":1250,"text":"If a dispute arises between the Partners in connection with this agreement or the Partnership, a Partner must not commence court proceedings (other than for urgent interlocutory relief) unless the following procedure has been followed.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"57505a19-f919-4e04-ab70-06cefceced57","order":1260,"text":"The Partner claiming that a dispute has arisen must give written notice to the other Partners specifying the nature of the dispute. The Partners must then, in good faith, meet and use all reasonable endeavours to resolve the dispute by negotiation within 14 days of the notice.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"abef8d72-1a61-45a2-b9e7-aa3056652534","order":1270,"text":"If the dispute is not resolved by negotiation, the Partners must refer it to mediation administered by a mediator agreed between them or, failing agreement within a further 14 days, a mediator nominated by [nominating body]. The costs of the mediation must be borne equally by the parties to the dispute.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"b7f665f5-49c6-4605-8267-0c498c1f615a","order":1280,"text":"If the dispute is not resolved within 60 days after the appointment of the mediator, any Partner may commence court proceedings. Each Partner submits to the procedure in this section as a condition precedent to litigation, except where urgent injunctive relief is required.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"db45b17a-800d-4214-8b37-53eab8907d37","order":1290,"text":"22. GOODS AND SERVICES TAX","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S22"},{"id":"24e1fa11-b7ab-4bab-ab52-7c883eea5391","order":1300,"text":"Unless expressly stated otherwise, all amounts payable or consideration to be provided under this agreement are exclusive of goods and services tax (GST). Terms used in this section that are defined in the A New Tax System (Goods and Services Tax) Act 1999 (Cth) have the meaning given in that Act.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"1877fdd5-f70b-4445-bce1-85b142f1265c","order":1310,"text":"If GST is payable on any supply made under or in connection with this agreement, the party receiving the supply must pay to the supplier, in addition to the consideration for the supply, an amount equal to that consideration multiplied by the prevailing GST rate, at the same time as the consideration is payable and on receipt of a valid tax invoice. Each party must do all things reasonably necessary to enable the other to claim any input tax credit or reduced input tax credit to which it is entitled.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"23ebda7c-3988-4ccc-a5fa-8cf6ed3581df","order":1320,"text":"23. NOTICES","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S23"},{"id":"e847a82f-6b9d-42a2-8b3d-f82c077be488","order":1330,"text":"Any notice under this agreement must be in writing and given to a Partner at that Partner's address recorded in this agreement, or at such other address as that Partner notifies to the others in writing. A notice may be delivered by hand, sent by prepaid post, or sent by email to an email address notified by the recipient. A notice is taken to be received: if delivered by hand, on delivery; if sent by post, on the third Business Day after posting; and if sent by email, at the time of sending unless the sender receives an automated notice of non-delivery, provided that a notice received after 5.00 pm on a Business Day, or on a day that is not a Business Day, is taken to be received on the next Business Day.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"4c0be3a8-6267-4091-b0cd-4f682e6a5fc0","order":1340,"text":"24. GENERAL PROVISIONS","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S24"},{"id":"a9dbfa8c-1169-4c73-9723-cdebae64cb95","order":1350,"text":"This agreement constitutes the entire agreement between the Partners in relation to the Partnership and supersedes all prior negotiations, understandings and agreements, whether written or oral, in relation to its subject matter.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"630882b0-579d-408a-bb76-389527ba844a","order":1360,"text":"This agreement may only be amended or varied by a document in writing signed by all the Partners. A Partner may only assign or deal with that Partner's interest in the Partnership in accordance with this agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"e2f68eba-95e4-4aef-b801-a74b58e67c2e","order":1370,"text":"If any provision of this agreement is or becomes illegal, invalid or unenforceable in any jurisdiction, that does not affect the legality, validity or enforceability of the remaining provisions, which continue in full force and effect.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"7238bbda-0b4b-4ebe-801b-b05f52cbe290","order":1380,"text":"A failure or delay by a Partner in exercising any right or remedy does not operate as a waiver of it, and no single or partial exercise of any right or remedy precludes any further exercise of it or the exercise of any other right or remedy.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"07f84ae7-c583-4ab9-a82f-e7d21dfcbb20","order":1390,"text":"Each Partner must do all things and execute all documents reasonably necessary to give full effect to this agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"bfd8fc39-bc81-4122-af40-318406028865","order":1400,"text":"Each party must bear its own costs of and incidental to the negotiation, preparation and execution of this agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"fe3a6d50-18fd-4033-9d45-c3cfd4ef612a","order":1410,"text":"Nothing in this agreement creates any partnership, joint venture, agency or fiduciary relationship between the Partners and any third party, and no Partner has authority to bind any other Partner otherwise than for the purposes of the Business and in accordance with this agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"c2699f80-b132-4225-acfa-57441e009cbc","order":1420,"text":"Any provision of this agreement that is capable of having effect after this agreement ends, or after a Partner ceases to be a partner, including the provisions as to confidentiality, restraint of trade, indemnities and payment of an Outgoing Partner's Share, survives and continues in full force and effect.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"47044f23-c96b-4381-8c1a-36977f54e98a","order":1430,"text":"This agreement may be executed in any number of counterparts, and by electronic signature, each of which when executed is an original and all of which together constitute one and the same instrument. A party may enter into this agreement by signing and exchanging a counterpart, including by electronic means.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"5331d374-831b-45d8-b32e-b0e42a62f57b","order":1440,"text":"25. GOVERNING LAW AND JURISDICTION","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S25"},{"id":"42f7a06b-9db4-4471-97d0-71cb3b09a5fa","order":1450,"text":"This agreement is governed by the law in force in [State/Territory], and, in respect of the partnership relationship, by the Partnership Act in force in [State/Territory]. The Partners irrevocably submit to the non-exclusive jurisdiction of the courts of that State or Territory and courts competent to hear appeals from them.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"85c0888c-09df-49a9-9c19-1adf7ecf7c0c","order":1460,"text":"EXECUTION","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20"},{"id":"5689b9a1-86ae-4351-abce-6f3db36fb607","order":1470,"text":"EXECUTED as an agreement on [Date].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"b0d02d6e-45c4-4c05-b112-25e6669fb12b","order":1480,"text":"SIGNED by [Full name]","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"30","cflou":false,"active":true,"marginTop":"20"},{"id":"56ad196a-d88f-43c2-b57f-e8a86cf1cd5e","order":1490,"text":"_______________________________","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"8026ef23-8524-40b8-80a8-73c54e93dd35","order":1500,"text":"SIGNED by [Full name]","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"30","cflou":false,"active":true,"marginTop":"20"},{"id":"1604d07a-59ef-4cd8-9198-cab8c1b1e8d2","order":1510,"text":"_______________________________","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"cac3f6bd-3bcf-4caa-954d-ad15442e558a","order":1520,"text":"SIGNED by [Full name]","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"30","cflou":false,"active":true,"marginTop":"20","displayConditions":[{"field":"a62e3356-29fb-4f95-b33f-79618e856be7","value":"2","type":"remove","operator":"="}]},{"id":"7cd649de-7778-4844-8fd6-740b922294d0","order":1530,"text":"_______________________________","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true,"displayConditions":[{"field":"a62e3356-29fb-4f95-b33f-79618e856be7","value":"2","type":"remove","operator":"="}]},{"id":"0f028c1f-786f-4de0-a302-4024f1caf5db","order":1540,"text":"SIGNED by [Full name]","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"30","cflou":false,"active":true,"marginTop":"20","displayConditions":[{"field":"a62e3356-29fb-4f95-b33f-79618e856be7","value":"2","type":"remove","operator":"="},{"field":"a62e3356-29fb-4f95-b33f-79618e856be7","value":"3","type":"remove","operator":"="}]},{"id":"5e8afb9e-83d3-47aa-80a2-e37ca18f5063","order":1550,"text":"_______________________________","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true,"displayConditions":[{"field":"a62e3356-29fb-4f95-b33f-79618e856be7","value":"2","type":"remove","operator":"="},{"field":"a62e3356-29fb-4f95-b33f-79618e856be7","value":"3","type":"remove","operator":"="}]}]