The Incorporated Private Partnerships Act, 1962
Section 17: (1) A person who is admitted as a partner into an existing firm shall not thereby become liable to the creditors of the firm for anything done before he became a partner.
(2) A partner who retires from a firm shall not thereby cease to be liable for the debts or obligations of the firm incurred before his retirement.
(3) A retiring partner may be discharged from any existing liability by an agreement to that effect between himself and the firm and the creditor, and this agreement may be either express or inferred as a fact from the course of dealing between the creditor and the firm as newly constituted.
(4) Where a person deals with a firm after the retirement of any partner whom he knew to be a partner in the firm, he shall be entitled to treat the retired partner as still being a partner until he has notice of the retirement and the retired partner shall be liable accordingly.
(5) If any such person had dealings with the firm prior to the retirement he shall not be deemed to have notice of the retirement unless he has actual knowledge thereof, but an advertisement in a daily newspaper circulating in the district in which is situated the principal place of business of the firm shall be notice to persons who have not had dealings with the firm prior to the retirement.
(6) The estate of a partner who dies or has an insolvency order made against him under the Insolvency Act, 1962 (Act 153) or, subject as provided by subsections (4) and (5) of this section, a partner who retires, shall not be liable for any debts or obligations of the firm contracted or incurred after the date of the death, insolvency order, or retirement respectively.
Procedure to Follow
1. Applicant may purchase and complete Form A for Incorporation of Partnership from the in-house bank or Download
2. Provide stamped Partnership agreement at Land Valuation Board
3. Submit filled forms at the Partnership Registration Counter for Verification and Capturing or via Online
4. Pay processing fee of GHS160.00 at the in-house bank or via Online
5. Registrar Examines, Approves & Issues Certificate of Incorporation As well as CERTIFIED TRUE COPY(CTC) of Form B
6. File Annual Returns at Fifty Ghanaian Cedi(GHS 50) together with Audited Account...
Responsible Institution
- Email: info@rgd.gov.gh
- Website: https://www.rgd.gov.gh
- GPS: GA-143-4647
- Telephone: +233 302 664 691-93
Relevant Forms to Download
Not Available
Online System
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Fees/ charges
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