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Amended Partnership Deed Template for New Zealand

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Key Requirements PROMPT example:

Amended Partnership Deed

"I need an Amended Partnership Deed to add two new partners to our existing accounting firm partnership from March 1, 2025, with each contributing NZD 500,000 in capital, and to update the profit-sharing arrangements accordingly."

Document background
The Amended Partnership Deed is essential when partners need to formalize changes to their existing partnership arrangement in New Zealand. This document is typically used when circumstances require modifications to the original partnership agreement, such as when partners join or leave, capital contributions change, or business operations evolve. The deed must comply with New Zealand's Partnership Law Act 2019 and should be carefully drafted to ensure it properly interfaces with the original partnership deed. It includes crucial details about the amendments, effective dates, and confirmation of continuing terms, while ensuring all changes are properly authorized and executed. This document is particularly important for maintaining clear records of partnership evolution and preventing future disputes about partnership terms.
Suggested Sections

1. Parties: Identifies all current partners, including both original and any new partners

2. Background: Recitals explaining the existence of the original partnership deed and the reason for amendments

3. Definitions: Defines key terms used in the deed, including references to the original partnership deed

4. Interpretation: Rules for interpreting the deed, including relationship with original deed

5. Amendment Authority: Establishes the authority to make amendments under the original deed

6. Effective Date: Specifies when the amendments take effect

7. Amendments: Details of specific amendments to the original partnership deed

8. Confirmation of Other Terms: Confirms that all other terms of the original deed remain in force

9. Costs: Allocation of costs related to preparing and executing the amended deed

10. Execution: Formal execution block for all partners to sign

Optional Sections

1. New Partner Admission: Required if new partners are being admitted, including their capital contributions and rights

2. Partner Retirement: Required if any partners are leaving, including settlement terms

3. Capital Adjustments: Include if partner capital contributions are being modified

4. Profit Sharing Variations: Include if changing the profit-sharing ratios

5. Management Structure Changes: Include if modifying management responsibilities or voting rights

6. Business Scope Changes: Include if the partnership's business activities are being modified

7. Duration Changes: Include if modifying the partnership term or continuation provisions

Suggested Schedules

1. Schedule 1 - Original Partnership Deed: Copy of the original partnership deed being amended

2. Schedule 2 - Capital Contributions: Updated schedule of partner capital contributions and current account balances

3. Schedule 3 - Profit Sharing Ratios: Updated profit and loss sharing arrangements

4. Schedule 4 - Partnership Assets: Current list of partnership assets and their agreed values

5. Schedule 5 - Management Responsibilities: Updated allocation of management duties and authorities

6. Appendix A - Partnership Resolutions: Copies of partnership resolutions authorizing the amendments

7. Appendix B - Regulatory Approvals: Copies of any required regulatory or third-party approvals for the amendments

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Relevant Industries

Professional Services

Legal Services

Accounting & Financial Services

Medical Practices

Architecture & Design

Engineering Consultancy

Real Estate

Management Consulting

Veterinary Practices

Agricultural Businesses

Retail & Hospitality

Construction & Trade

Relevant Teams

Legal

Finance

Compliance

Operations

Risk Management

Corporate Secretariat

Business Development

Partnership Management

Executive Leadership

Administrative Support

Relevant Roles

Managing Partner

Senior Partner

Junior Partner

Chief Executive Officer

Chief Financial Officer

Legal Counsel

Partnership Manager

Business Development Manager

Operations Director

Finance Director

Compliance Officer

Risk Manager

Company Secretary

Practice Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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