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ARTICLE · 21 JUNE 2021

Changes To The Alberta Partnership Act Now In Effect

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As of June 1, 2021, Alberta's Partnership Act (the Act) was amended to help reduce red tape attached to several administrative requirements of limited partnerships.

CanadaCorporate/Commercial Law
Bennett Jones LLP
Bennett Jones LLP
Brent Kraus
Brent Kraus
Sydney Olsen
Sydney Olsen
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As of June 1, 2021, Alberta's Partnership Act  (the Act) was amended to help reduce red tape attached to several administrative requirements of limited partnerships. These amendments better align the Act  with the more streamlined Ontario Limited Partnership Act, particularly in regards to the formation of limited partnerships, reliance on partnership agreements and extra-provincial limited partnerships. The simplification of the Act  is made pursuant to Bill 22, Red Tape Reduction Implementation Act, 2020 (RTRI Act). The RTRI Act is an omnibus bill that amends 12 pieces of legislation and repeals 2 others across 6 government departments. The Government of Alberta has categorized the objectives of the amendments into four categories: speeding up government approvals; easing administrative burdens on municipalities; improving government transparency and removing outdated requirements; and promoting economic growth and job creation by eliminating unnecessary burdens.

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