Following consultation the government will introduce a legislative reform order to Parliament in due course allowing limited partnerships that are collective investment schemes to be designated as ‘private fund limited partnerships’. The government intends the changes to be fully operational within a year. See www.bit.ly/1CUtqqh.
The consultation proposals were intended to ensure that the limited partnership remains the market standard structure for European private equity and venture capital funds as well as for many other types of private fund in an increasingly competitive global market. English and Scottish limited partnerships are the most commonly used structure for these funds. The changes form part of the government’s investment management strategy launched at Budget 2013.
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Following consultation the government will introduce a legislative reform order to Parliament in due course allowing limited partnerships that are collective investment schemes to be designated as ‘private fund limited partnerships’. The government intends the changes to be fully operational within a year. See www.bit.ly/1CUtqqh.
The consultation proposals were intended to ensure that the limited partnership remains the market standard structure for European private equity and venture capital funds as well as for many other types of private fund in an increasingly competitive global market. English and Scottish limited partnerships are the most commonly used structure for these funds. The changes form part of the government’s investment management strategy launched at Budget 2013.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
