Denis Naughten (Roscommon-South Leitrim, Fine Gael)
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Question 63: To ask the Minister for Enterprise, Trade and Innovation his plans to update the current partnership law; and if he will make a statement on the matter. [5766/11]

Richard Bruton (Dublin North Central, Fine Gael)
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The Company Law Review Group (CLRG) gave in-depth consideration, over a period of 4 years, to the reform of partnership law, in particular to the possibility of introducing Limited Liability Partnerships for accountants and solicitors. In general, the CLRG did not find any strong tide of opinion running in favour of introducing Limited Liability Partnerships. However, the Group did say that the issue warranted some further consideration and recommended that the Department of Enterprise, Trade and Innovation and the Department of Justice, Equality & Law Reform should establish a committee, made up of representatives of both Departments and of the CLRG, the Irish Accountancy and Auditing Supervisory Authority and the Courts Service, to consider whether accountants and solicitors should be permitted to form Limited Liability Partnerships or companies. I understand that this committee will meet shortly.

In the meantime, there have been some changes to the overall position on liability. Section 44 of the Civil Law (Miscellaneous Provisions) Act 2008 provides that a solicitor may contract with a client to limit his/ her liability to that client. Furthermore, S.I. 220/2010, European Communities (Statutory Audits) (Directive 2006/43/EC) Regulations 2010, provides, among other things, for the removal of the prohibition on auditors incorporating as a limited liability company.