7 Conclusion
22. Whilst the changes to limited partnership law
proposed in the draft Order are relatively small, we conclude
that they seem sensible and would provide additional clarity and
transparency and thereby likely to lead to a small reduction in
relevant legal costs. Keeping these proposals on ice until further
reforms to limited partnerships are ready will serve to continue
the current uncertainty about registration, which would be overcome
by it being written into law that a limited partnership comes
into existence when the Registrar registers it. We therefore
recommend that the draft Order be approved.
23. The Parliamentary Under Secretary of State at
the then BERR (now BIS) has recommended that the affirmative resolution
procedure should apply. We agree that this is appropriate.
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