The Jersey limited liability partnership (the
LLP) was introduced in 1997. The new Limited
Liability Partnerships (Jersey) Law 2017 will be in force on 1
August 2018 (the New Law). The New Law will
replace the Limited Liability Partnerships (Jersey) Law 1997 (the
1997 Law) with a view to make the Jersey LLP more
competitive and the vehicle of choice for local and international
businesses. The New Law improves provisions relating to (i) a
solvency test when distributing from the LLP, and (ii) the registry
and its functions and makes the insolvency provisions clearer.
Transitional arrangements provide for LLPs
established under the 1997 Law to continue under the New Law as if
they had been registered under and granted a certificate under the
New Law. However, an LLP established under the 1997 Law is required
to appoint a secretary and notify the registrar of the name and
address of this secretary within six months of the New Law coming
into force. Until the LLP has
