It is particularly important given that the 1994 Act, in section 5(2), states, "A body corporate with or without limited liability may be a general partner or a limited partner and a partnership may be a limited partner." We have in the past established that a limited partner may be a body corporate and that a general partner may be a body corporate. In an investment limited partnership, including where the investment limited partnership is an umbrella fund with sub-funds, will a beneficial owner be identified for each company who is an investor in that company?
The legislation is called the Investment Limited Partnerships (Amendment) Bill 2020 and the essence of it is to give limited liability to limited partners. If such partners are deemed to be partaking in a decision of the investment limited partnership or breach their role as a limited partner, they will lose their limited liability.
Key terms by TF-IDF across 5,067 words from 5 speakers. The summary quotes the highest-scoring sentences verbatim — nothing is paraphrased.
Tellers: Tá, Senators Alice-Mary Higgins and Lynn Ruane; Níl, Senators Robbie Gallagher and Seán Kyne.
| Question | Result | Tá–Níl |
|---|---|---|
| Amendment put: | Carried | 17–32 |
| Amendment put: | Lost | 15–27 |
| Question put: | Carried | 25–9 |
| Amendment put: | Lost | 12–26 |
Party shown is the one each member held on 2020-11-06, frozen by a dated join — not their party today. The Oireachtas API publishes no date of birth and returns an empty gender field for every member in this period, so no age or gender breakdown is shown.