Thursday, 28 November 2019
Department of Finance
92. To ask the Minister for Finance the progress of the legislation governing limited partnerships; if his Department is taking the lead on same: if not, if the Department of Business, Enterprise and Innovation is taking the lead; and if he will make a statement on the matter. [49679/19]
The Investment Limited Partnership Act 1994 defines Minister as the Minister for Business, Enterprise and Innovation. However the Investment Limited Partnership (Amendment) Bill 2019 proposes to amend the Act so that I, as the Minister for Finance, will be the responsible Minister and it is my officials that have been working on the proposed amendments to the Act. My officials have been engaging with the relevant stakeholders on the Bill during the drafting process, which includes the Department of Business, Enterprise & Innovation.
The Investment Limited Partnership (Amendment) Bill is a priority piece of legislation for Government and the legislation forms part of the Ireland for Finance Strategy. The second stage debate in Dáil Eireann was completed on 18 September 2019.
As the Minister of State outlined during the Second Stage debate, there will be a number of technical changes to be brought forward at Committee Stage.