Wednesday, 1 April 2009

UK: limited partnership reform - where now?

Last year the Department for Business, Enterprise and Regulatory Reform published a consultation paper in which it set out proposals for the reform of the law governing limited partnerships (including the repeal of the Limited Partnerships Act 1907). The consultation paper contained a draft of The Legislative Reform (Limited Partnerships) Order 2009. Following consultation - which included opposition from Scottish landowning interests in respect of some proposals - DBERR has announced that the proposed Reform Order will not be brought into force on 1 October 2009. In its response to consultees' views, DBERR states: 

... it is apparent that we are not in a position to proceed with the draft Legislative Reform Order in its current form. There is however broad support for many of the key proposals. The Government wishes to proceed with these proposals, and will be discussing with consultees how to take these forward".

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