The Exempted Limited Partnership Law, 2014 was Gazetted today and has now passed into law. This is a much-anticipated, and entirely revamped, version of the prior Exempted Limited Partnership Law. The revisions are based on three broad principles: to confer even greater contractual flexibility on the partners, to reflect developing trends in the formation, regulation and operation of private funds and to ensure consistency of advice on matters of Cayman Islands law.
Action Required
Parties that work with Cayman Islands exempted limited partnerships should familiarise themselves with the new law.
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