The Government has published its response to its recent consultation on the reform of limited partnership law in the UK. Here Stephen Chan, author of 'A Practical Guide to Partnership Law in Scotland', looks at the four key proposals, and what they would mean for Scottish limited partnerships and other LPs.
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Latest articles from Stephen Chan
Harper Macleod contributes to BEIS proposals for reform of limited partnership law and Scottish Limited Partnerships
The Department for Business, Energy & Industrial Strategy (BEIS) has recently closed its consultation on the reform of limited partnership law. Stephen Chan, Partner at Harper Macleod, met with BEIS in Edinburgh to discuss its consultation as the firm has been active in the consultation exercise with BEIS. This article provides some analysis of the measures being proposed.
While it may be bit far-fetched to compare partners in a partnership with Damocles, partners should nevertheless be aware of the potential precarious situation that they find themselves in.
Earlier this year, The Department for Business Review, Energy & Industrial Strategy (BEIS) held a consultation on its Review of Limited Partnership Law: Call for Evidence. But what was the consultation about and why now? Scottish Limited Partnerships have been in the headlines, and here we look at what they are and why they've been attracting attention.
Brought into force on 26 June 2017, the Scottish Partnerships (Register of People with Significant Control) Regulations 2017 (S.I. 2017/694), introduced a requirement for eligible Scottish Partnerships to identify, and file with Companies House, people with significant control. Similar regulations for both LLPs and Companies were enacted in 2016.