Limited Partnerships go live on 2 May 2008
Published: 09.04.2008
On 2 May 2008 the Limited Partnerships Act 2008 will come into force. The Act has been introduced to promote sustainable growth in New Zealand's venture capital and private equity industries.
Limited Partnerships are a form of partnership involving general partners, who are liable for all the debts and liabilities of the partnership, and limited partners, who are liable to the extent of their capital contribution to the partnership.
The Limited Partnerships Act 2008 replaces special partnerships that exist under Part 2 of the Partnership Act 1908. Special partnerships are considered obsolete as they do not provide the appropriate structure preferred by foreign venture capital investors.
Clients will be able to access forms and search the online Limited Partnership and Overseas Limited Partnership registers from 2 May 2008.
To find out more about Limited Partnerships please visit our website.
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