HM Treasury have published a consultation paper setting out proposed changes to the
Limited Partnerships Act 1907 in respect of what will be known as 'private fund limited partnerships': see
here (
pdf). The 1907 Act will be amended to provide, amongst other things, a non-exhausitve list of activities that a limited partner in a private fund limited partnership may undertake without being considered to be taking part in the management of the business (and, as such, retaining limited liability). A draft of the Legislative Reform (Limited Partnerships) Order 2015 accompanies the paper: see
here (
pdf).
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