How to end a limited partnership
There are three ways to end a limited partnership:
- Change a limited partnership to a general partnership
- Dissolve a limited partnership
- Wind up a limited partnership
Each requires you to notify us within seven days by:
If the documentation provided is correct, we will process the form within 5 working days.
There is no fee to be paid.
Please note: if you lodge a form that is difficult to read, we may request that you also send the original forms by post.
Change a limited partnership to a general partnership
A business can change from being a limited partnership to a general partnership if all its limited partners either become general partners or leave the partnership.
This requires agreement from all the partners, both general and limited.
Dissolve a limited partnership
A limited partnership can be dissolved according to the terms of the partnership agreement.
Subject to the terms of the agreement, the following restrictions apply:
- A limited partner cannot dissolve a limited partnership by issuing a notice on their own.
- The general partner(s) or the other limited partner(s) cannot dissolve a limited partnership on the basis that a limited partner has:
- allowed their share of the partnership property to be used as collateral for debts outside the partnership
- died
- become bankrupt
- retired
- become dissolved (if a body corporate).
Wind up a limited partnership
If the partners agree to wind up a limited partnership, this must be done by the general partners unless a court or tribunal orders differently.