Any two or more persons can form a limited partnership, but a limited partnership must consist of one or more persons who are general partners and one or more persons who are limited partners.

A body corporate may be a general or a limited partner and a person may be a general partner as well as a limited partner at the same time in the same limited partnership.

Any of the general partners of a limited partnership or a person acting on their behalf may on delivering to the Registrar of Limited Partnerships a declaration of the formation of the limited partnership and on payment of the prescribed registration fee apply for the registration of the declaration.

An association of persons will not be a limited partnership until the Registrar of Limited Partnerships has issued a certificate in respect of the above mentioned declaration.