Modernising the English limited partnership

28 July 2015

On 23 July 2015, HM Treasury published a long awaited consultation paper seeking views on a number of proposed amendments to the Limited Partnerships Act 1907, the principal legislation governing UK limited partnerships.

The proposed amendments have been published as a draft legislative reform order alongside the consultation paper. The consultation will end on 5 October 2015.

In this publication we set out a summary of the proposed amendments, which are intended to provide a framework that will better accommodate the use of UK limited partnerships in private fund investments, whilst maintaining and enhancing the UK’s competitiveness as a fund domicile.