Limited Partnerships: Proposals For Reform Published

The Department of Enterprise, Trade and Employment has published the General Scheme of the Registration of Limited Partnerships and Business Names Bill 2024, containing proposals to reform the Limited Partnerships Act 1907. It consulted on possible reforms in January 2019.

Below are the key proposals from the General Scheme (which may be amended before the Bill itself is formally published).

REGISTRATION

• At the moment, when a limited partnership (LP) is registered, it can then move its principal place of business (PPOB) outside Ireland. The General Scheme proposes that LPs be required to maintain an ongoing connection with Ireland via an Irish registered office or PPOB. The General Scheme refers in different places to an LP having an office and PPOB, or an office or PPOB – the exact requirement should be clarified when the Bill itself is published.