Section 115 — Corporations Act 2001: Restrictions on size of partnerships and associations

(1) A person must not participate in the formation of a partnership or association that: (a) has as an object gain for itself or for any of its members; and (b) has more than 20 members; unless the partnership or association is incorporated or formed under an Australian law. Note: For the effect of a contravention of this section, see section 103. (2) The regulations may specify a higher number that is higher than the number specified in paragraph (1)(b) for the purposes of the application of that paragraph to a particular kind of partnership or association. (3) An offence based on subsection (1) is an offence of strict liability. Note: For strict liability, see section 6.1 of the Criminal Code.