# Partnership ceases to exist

> act-s140ZD — as in force on 2026-06-04 — C2026C00232 · Compilation No. 171 — https://www.legislation.gov.au/C2026C00232/latest/text

140ZD Partnership ceases to exist
          (1) If a partnership ceases to exist, the persons who were partners
              immediately before the cessation must continue to satisfy any
              applicable sponsorship obligation.
          (2) Section 140ZB applies as if:









                 (a) references to a partnership were to a partnership that ceases
                     to exist; and
                 (b) references to partners of the partnership were to the persons
                     who were partners immediately before the cessation.
          (3) For the purpose of this section, a partnership ceases to exist if the
              dissolution of the partnership does not result in the creation of
              another partnership.