Partnership Law
The basic structure of partnership law was set out in the Partnership Act 1890, and limited partnerships were introduced by the Limited Partnerships Act 1907. More recently, the Limited Liability Partnerships Act 2000 created a new form:Limited Liability Partnerships (LLP)
The Government is in the process of reforming the law on limited partnerships based on recommendations made in a joint report by the Law Commission and Scottish Law Commission.
The first of these reforms were introduced by a Legislative Reform Order (LRO) that came into force on 1 October 2009.
We plan to consult later this year on the best way of structuring work on limited partnerships so that we can implement all of the reforms for which there is broad support. We will update our website with further information in due course.
Guidance on setting up and operating a partnership can be found on the Business Link website.
