The Partnership Act generally comes into force on the date specified in the Act or by the relevant authority. For example, in India, the Indian Partnership Act, 1932 came into force on the 1st day of October, 1932, except for Section 69, which came into force on the 1st day of October, 1933. This means the Act governs partnership firms from that date forward, regardless of when the partnership itself was formed. In terms of a specific firm, the Partnership Act applies from the moment the partnership is actually constituted—i.e., when two or more persons agree to carry on business together sharing profits—as this creates the partnership relation governed by the Act. No specific registration or formal notification is required to bring the Act into force for that firm; the partnership is governed by the Act once it exists by agreement. In summary:
- The Partnership Act enters into force generally on the date specified in the legislation (e.g., October 1, 1932 in India).
- For an individual firm, the Act applies as soon as the partnership is formed by agreement of the partners to carry on business together.
- Registration of the firm is not compulsory for the Act to apply.
- Partners become subject to the rights and duties under the Act upon forming the partnership.
This applies broadly to jurisdictions following the Indian Partnership Act, 1932 or similar legal frameworks. Other jurisdictions may have different dates or enactments when their partnership acts come into force. If a particular country's Partnership Act or specific provisions are of interest, please specify for more targeted information.
