Key takeaways

• On 23 July 2015, HM Treasury published a consultation paper on certain proposed amendments to the Limited Partnerships Act 1907, the principal legislation governing English and Scottish limited partnerships.
• The amendments proposed by HM Treasury are intended to eliminate uncertainties and peculiarities of current UK limited partnership law so as to ensure that the UK limited partnership remains the market standard structure for European private funds.
• The consultation closes on 5 October 2015.  Responses are being sought by HM Treasury.