News story

New type of limited partnership

The Legislative Reform (Private Fund Limited Partnerships) Order 2017 came into force 6 April 2017.

Private fund limited partnerships

New legislation came into force on 6 April 2017 which introduces a new type of limited partnership. The Order introduces private fund limited partnerships (PFLPs) and amends the 1907 Act, which applies to PFLPs and partners in PFLPs.

New and existing private investment schemes can be structured as limited partnerships.

To register as a new PFLP, use Form LP7. An existing limited partnership applying for designation as a PFLP should use Form LP8. Some changes have also been made to the existing forms LP5 and LP6.

All new and amended LP forms are available to download.

You can find the new legislation in the Legislative Reform (Private Fund Limited Partnerships) Order 2017.

Image: Shutterstock/Mind and I

Published 6 April 2017
Last updated 10 April 2017 + show all updates
  1. Welsh translation added.
  2. First published.