1950_PARTNERSHIP_ORDINANCE — Page 8

Partnership.

(b) the firm must indemnify every partner in respect of payments made and personal liabilities incurred by him-

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(i) in the ordinary and proper conduct of the business of the firm; or

(ii) in or about anything necessarily done for the preservation of the business or property of the firm;

(c) a partner making, for the purposes of the partner- ship, any actual payment or advance beyond the amount of capital which he has agreed to subscribe, is entitled to interest at the rate of eight per cent per annum from the date of the payment or advance;

(d) a partner is not entitled, before the ascertainment of profits, to interest on the capital subscribed by him;

(e) every partner may take part in the management of

the partnership business;

(f) no partner shall be entitled to remuneration for

acting in the partnership business;

(g) no person may be introduced as a partner without

the consent of all existing partners;

(h) any difference arising as to ordinary matters con- nected with the partnership business may be decided by a majority of the partners, but no change may be made in the nature of the partnership business without the consent of all existing partners; and (i) the partnership books are to be kept at the place of business of the partnership (or the principal place, if there are more places than one), and every partner may, when he thinks fit, have access to and inspect and copy any of them.

[24

[CAP. 38

27. No majority of the partners can expel any partner, Expulsion unless a power to do so has been conferred by express of partner. agreement between the partners.

[25

Retirement from

28. (1) Where no fixed term has been agreed upon for the duration of the partnership, any partner may determine partnership the partnership at any time on giving notice of his intention at will. to do so to all the other partners.

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