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.
Legal Insights & Industry Updates
Life, business and the law
The law never stands still, and the way it applies to you and your organisation is constantly evolving. Our people are on top of these developments and can keep you up to date with some of the most interesting aspects of these changes. Check out our articles and updates for our perspective on issues that might affect you.
Latest Partnership law articles
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.
The Government published on 17th January its new bill on Private Fund Limited Partnerships. Harper Macleod helped to formulate the bill by giving a detailed response during the consultation exercise and we are pleased to have been named as a respondent in the Treasury paper.