Press release
Investment Limited Partnership (Amendment) Bill 2019 to improve regulatory landscape for private funds completes Second Stage in Dáil Éireann
Published on
Last updated on
Published on
Last updated on
Minister of State Michael D’Arcy TD welcomed that Second Stage of the Investment Limited Partnership (Amendment) Bill 2019 has been completed (18 September 2019).
The Bill will modernise the Investment Limited Partnership Act, which was first introduced in 1994, and align it with more recent domestic and EU legislation, such as the Companies Act 2014 and the EU Alternative Investment Funds Managers Directive.
The Investment Limited Partnership Act is on the Government's priority legislation list and its amendment forms part of the Ireland for Finance Strategy. The aim of the Bill is to make Ireland a more attractive domicile for private equity funds and in turn broaden the offering of Ireland’s investment funds sector, which supports thousands of jobs directly and many more indirectly.
Minister of State at the Department of Finance, Michael D’Arcy TD, said:
“Enhancing the Investment Limited Partnership structure is a key deliverable of the Ireland for Finance Strategy. The Investment Limited Partnership (Amendment) Bill will further support Ireland’s offering as a top-tier global location of choice for financial services investments as laid out in the Ireland for Finance Strategy.
The limited partnership structure is used in the EU and around the world for venture capital, private equity and other ‘real economy’ investing by investment funds.
The Investment Limited Partnership (Amendment) Bill will allow Ireland to compete for global private equity investment, with the aim of creating employment and securing Ireland’s reputation as a reputable and attractive location for the funds industry, which is subject to a robust and transparent regulatory regime.”
ENDS
Contact:
Aidan Murphy - Press Officer, Department of Finance - 085 886 6667