§ 1 — Definition of partnership

1.—(1) Partnership is the relation which subsists between persons carrying on a business in common with a view of profit.(2) But the relation between members of any company or association which is —(a)

registered as a company under the Companies Act 1967 or under any previous corresponding law; or

(b)

formed or incorporated by or in pursuance of any other Act of Parliament,

is not a partnership within the meaning of this Act.

—(1) Partnership is the relation which subsists between persons carrying on a business in common with a view of profit.

(2) But the relation between members of any company or association which is —(a)

registered as a company under the Companies Act 1967 or under any previous corresponding law; or

(b)

formed or incorporated by or in pursuance of any other Act of Parliament,

is not a partnership within the meaning of this Act.