On April 6, the Legislative Reform (Private Fund Limited Partnerships) Order 2017 (LRO), implementing changes to the Limited Partnerships Act 1907, introduced a new subcategory of limited partnership known as the private fund limited partnership (PFLP).
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UK Private Fund Limited Partnerships
By David A. Brennand on
Posted in Financial Markets, UK Developments
HM Treasury has published a revised draft Legislative Reform Order (Order) on amendments to the Limited Partnership Act 1907 (Act), which was laid before parliament on January 16. The Order relates to the new private fund limited partnership (PFLP) structure. The PFLP is designed to reduce the administrative and financial burdens that impact funds under the current limited partnership (LP) structure, thereby making the United Kingdom a more attractive jurisdiction for funds. Further information on the proposal stage of the Order can be found in the Corporate & Financial Weekly Digest edition of August 7, 2015.
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