Document background
The Addendum To Partnership Deed is essential when partners need to modify their existing partnership arrangements in Australia without drafting an entirely new partnership agreement. It is commonly used when circumstances require changes such as admitting new partners, adjusting profit-sharing ratios, updating management structures, or modifying operational procedures. This document must comply with the Partnership Act in the relevant Australian state or territory, as well as federal business legislation. The addendum serves as a supplementary agreement that should be read in conjunction with the original Partnership Deed, maintaining clear records of all modifications while ensuring continuity of the partnership's legal framework. It's particularly important for maintaining accurate partnership records and ensuring all changes are properly documented and legally enforceable.
