The Companies Act limits the membership in a business partnership to 20 persons (who may be either natural or juristic persons), except for partnerships of certain recognised professionals, including accountants and attorneys. Apart from this restriction, a partnership is not subject to the requirements imposed on companies and close corporations by legislation.
No other statutory provisions govern partnerships. They are subject to the general principles of the law of contract, and to various special principles of that law applicable particularly to partnerships. They are not separate legal entities, and no registration formalities exist in relation to partnerships.
En commandite and anonymous partnerships are partnerships in which some partners remain secret or anonymous. The undisclosed partners, unlike the disclosed partners, have no liability to third parties, and their liability to their fellow partners is limited to the amount of their partnership contributions or to the proportion of their partnership interests respectively.
Individuals may also carry on business as sole proprietors.
For further information please contact:
Werksmans Chambers, 22 Girton Road, Parktown, Johannesburg 2193
P.O. Box 927, Johannesburg 2000 South Africa
Enquiries: Mr Charles Butler
Telephone 27 (011) 488-0000
Telefax 27 (011) 484-3100/3200
E-Mail Address firstname.lastname@example.org
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