s 3 Constitution of limited partnership
3.—(1) From 4 May 2009, limited partnerships may be formed in accordance with and subject to the conditions of this Act. (2) A limited partnership must consist of —(a) one or more general partners; and (b) one or more limited partners. (3) A general partner is liable for all debts and obligations of the limited partnership incurred while he, she or it is a general partner in the limited partnership. (4) Subject to sections 6(2) and 10, a limited partner is not liable for the debts or obligations of the limited partnership beyond the amount of the limited partner’s agreed contribution, solely by reason of the limited partner being a limited partner of the limited partnership. (5) An individual or a corporation may be a general partner or a limited partner.