Why Register with Mondaq
Free, unlimited access to more than half a million articles (one-article limit removed) from the diverse perspectives of 5,000 leading law, accountancy and advisory firms
Articles tailored to your interests and optional alerts about important changes
Receive priority invitations to relevant webinars and events
You’ll only need to do it once, and readership information is just for authors and is never sold to third parties.
Your Organisation
We need this to enable us to match you with other users from the same organisation, it is also part of the information that we share to our content providers ( Contributors ) who contribute Content for free for your use.
Why is this topic suddenly of interest?
Irish Investment Limited Partnerships (“ILPs”) have been around since the introduction of the Investment Limited Partnership Act in 1994 (the “1994 Act”). Due to certain requirements imposed under the 1994 Act, they have seldom been used – there were only six in existence as of January 2021 based upon statistics published by the Central Bank of Ireland (“CBI”).
However, the 1994 Act has now been revitalised by virtue of the Investment Limited Partnerships (Amendment) Act 2020 (the “2020 Act”) to make it fit for modern-day investment purposes and comparable to other fund domiciles. Marking the signing of the Statutory Instrument, the Irish Minister of State at the Department of Finance, said: “The changes will further support Ireland’s offering as a top-tier global location of choice for financial services investments.”
To print this article, all you need is to be registered or login on Mondaq.com.
In this issue we consider some SFDR updates including, the
Central Bank s fast-track filing process and the European
Supervisory Authorities request for clarifications from the
European Commission on the application of certain SFDR provisions.
Ahead of the commencement of the ILP (Amendment) Act 2020 on 1
February we take a look at the Irish Investment Limited Partnership
structure. We also consider ESMA s announcement of its CSA on
costs and fees in UCITS and its recent statement regarding reverse
solicitation rules.
If you would like to discuss any of the topics covered, please
To print this article, all you need is to be registered or login on Mondaq.com.
In this issue we consider a number of recent Central Bank
updates including some of its post-Brexit requirements for UK
Investment Managers and UK AIFMs, its recent consultations on
performance fees and on changes to the AIF rulebook in relation to
permissible features of closed-ended AIFs, and some clarifications
for unit trust funds in respect of their central register filings.
We also note the passing of the Investment Limited Partnerships
(Amendment) Bill and consider the implications for investment funds
following the Central Bank s thematic inspections on Fitness
3,000 jobs in pipeline due to new finance law Independent.ie 18/12/2020 John Mulligan
An extra 3,000 jobs could be created in Ireland’s fund industry by 2025 after a new financial services bill comes into law, it has been predicted.
Irish Funds, which represents 140 members with $4.9 trillion (€4 trillion) of funds under their umbrella, said the new legislation could attract up to €20bn a year in global private capital to Ireland.
The Investment Limited Partnerships (Amendment) Bill, which has just been passed in the Dáil, should enable companies here to expand their private equity, infrastructure, renewables and property finance offerings.
“This is game-changing in terms of Ireland’s global competitiveness and will enable and drive new business and opportunities, as well as retain business which has previously been lost overseas,” said Pat Lardner, the chief executive of Irish Funds.