Section 1 — Definition of partnership

(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.