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The draft Legislative Reform (Limited Partnerships) Order 2009 and Explanatory Document were laid before Parliament by the then Department for Business, Enterprise and Regulatory Reform (now the Department for Business, Innovation and Skills) on 2 June 2009 under section 14(1) of the Legislative and Regulatory Reform Act 2006.
The draft Order seeks to introduce two changes to the Limited Partnership Act 1907, namely making a certificate of registration conclusive evidence that a limited partnership has been formed on the date shown; and requiring that all new limited partnerships provide clarity about their status by including the words 'Limited Partnership', 'LP' or equivalent at the end of the name.
We believe that all statutory preconditions and tests have been met.
We believe that responsibilities relating to the consultation procedures laid out in section 13 of the LRRA have been properly fulfilled.
We conclude that the proposals seem sensible and would provide additional clarity and transparency and are thereby likely to lead to a small reduction in relevant legal costs. We therefore recommend that the draft Order should be approved.
We agree that the draft Order should be subject to the affirmative resolution procedure.
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