Statute
Section 140ZD — Migration Act 1958: Partnership ceases to exist
Text of the provision Official document
(1) If a partnership ceases to exist, the persons who were partners immediately before the cessation must continue to satisfy any applicable sponsorship obligation. (2) Section 140ZB applies as if: (a) references to a partnership were to a partnership that ceases to exist; and (b) references to partners of the partnership were to the persons who were partners immediately before the cessation. (3) For the purpose of this section, a partnership ceases to exist if the dissolution of the partnership does not result in the creation of another partnership.
Official source: Federal Register of Legislation
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