Scottish Limited Partnerships – Security Reforms For Funds

The Moveable Transactions (Scotland) Bill - recently passed by the Scottish Parliament - will have a significant positive impact on fund finance transactions in Scotland. In this article, Hamish Patrick, Rod MacLeod and Andrew Kinnes look at how the changes will impact fund finance transactions in Scotland and involving Scottish limited partnerships.

Scottish limited partnerships

Scottish limited partnerships are often used in fund structures. They are very flexible, with little restriction on the terms of their partnership agreements and few specific constitutional requirements. They are quick and easy to set up, with relatively low ongoing administration requirements. They are general business organisations from a G7 country that have been used in many other sectors too since 1907. Most importantly, they have separate legal personality from their partners and tax transparency in the UK and many other jurisdictions. It is therefore very common to see them used