Clifford Chance
Proposed Changes to UK Limited Partnership Law Applicable to Private Funds
11 August 2015
On 23 July 2015 HM Treasury issued a consultation on proposed changes to the Limited Partnerships Act 1907 (which governs both English and Scottish limited partnerships).
The proposed amendments would be made by way of a legislative reform order ("LRO") and are designed to simplify the existing regime for registration, administration and operation of UK limited partnerships structured as private funds, remove some of the uncertainties that exist and "ensure that the UK limited partnership remains the market standard structure for European private equity and venture capital funds as well as many other types of private fund".
