Approval of the draft Limited Partnerships (Amendment) (Jersey) Law 200- ("the Amendment") for lodging.

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A decision made (02/06/2008) regarding: Approval of the draft Limited Partnerships (Amendment) (Jersey) Law 200- ("the Amendment") for lodging.

Decision Reference: MD-E-2008-0115
Decision Summary Title :	Limited Partnerships (Amendment) (Jersey) Law 200-		Date of Decision Summary:	30 May 2008
Decision Summary Author:	James Mews Finance Industry Development Executive		Decision Summary: Public or Exempt? (State clauses from Code of Practice booklet)	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title :	Limited Partnerships (Amendment) (Jersey) Law 200-		Date of Written Report:	30 May 2008
Written Report Author:	James Mews Finance Industry Development Executive		Written Report : Public or Exempt? (State clauses from Code of Practice booklet)	Public
Subject: Approval of the draft Limited Partnerships (Amendment) (Jersey) Law 200- (“the Amendment”) for lodging.
Decision(s): The Minister approved the Amendment and the attached report and signed the declaration of compatibility with the European Convention on Human Rights, and requested that the documents be lodged au Greffe by 3 June 2008 so as to allow the Amendment to be debated by the States on 15 July 2008.
Reason(s) for Decision: The Limited Partnerships (Jersey) Law 1994 is one of the key pieces of legislation used by the finance industry, especially in the funds sector. Desirable changes have been identified in a review of the vehicle by a steering group chaired by Economic Development in conjunction with the Law Society and Jersey Finance. The Law Officers Department have indicated that the Amendment does not raise any Human Rights issues. There are no new penalty provisions in the Amendment.
Resource Implications: There are no measurable financial or manpower costs for the States.
Action required: Forward a copy of the amendment and departmental report, together with the HR declaration to the Publications Editor, States Greffe, for preparation for lodging.
Signature: Senator P.F.C.Ozouf		Position: Minister
Date Signed:		Date of Decision (If different from Date Signed):