| Following a Cabinet decision, the Department of Finance has announced the 'green light' to publish the Investment Limited Partnership (Amendment) Bill 2019 |
Back |
| June 13th 2019: The long awaited, but greatly welcomed, Investment Limited Partnership legislation has been given the green light by the Cabinet, with the promised publication of the Investment Limited Partnership (Amendment) Bill 2019. The legisation was recently signalled as being due this week by the Minister of State for Financial Services, Michael D'Arcy, and true to his promise, the Department of Finance yesterday confirmed that the Government gave the green light to publish the Investment Limited Partnership (Amendment) Bill 2019. The aim is "to improve the regulatory landscape for private funds", a statement says. |
The Bill, which, the Department says "is on the Government's priority legislation list and is also a key deliverable in the Government's IFS 2025 Strategy", is an important part of Ireland’s strategy to develop its international financial services sector and to take advantage of the growth in non-banking finance in Europe. The aim of the Bill is to make Ireland a more attractive domicile for private equity funds, which supports thousands of jobs directly and many more indirectly.  | | Minister for Finance Paschal Donohoe: 'The revised Investment Limited Partnership structure will stand alongside the Irish Collective Asset-management Vehicle as a symbol of Ireland's responsiveness to business needs and a sound regulatory environment.' |
"The Investment Limited Partnership Act, which governs private equity funds, is now over twenty years old. The proposed amendments provide the opportunity to update the Act to reflect the developments at a European level in investment funds regulation.
The Minister for Finance & Public Expenditure and Reform, Paschal Donohoe TD said: “This is a further step towards ensuring that Ireland remains one of the leading funds domiciles in Europe. The revised Investment Limited Partnership structure will stand alongside the Irish Collective Asset-management Vehicle as a symbol of Ireland’s responsiveness to business needs and a sound regulatory environment.”
The Minister of State at the Department of Finance, Michael D’Arcy TD, said: “The Investment Limited Partnership (Amendment) Bill is an important update of the current Act which is almost 25-years old. This Bill will help create a leading framework for Irish investment funds, adding to the other leading investment vehicles. The Bill is also a key deliverable in the Government's IFS 2025 Strategy and I look forward to its progression through the Houses of the Oireachtas.” |
|
|
| |
|
