Regulatory Alerts2023-03-21
Limited Partnership (Amendment) Act, 2023
The Legislature of the Virgin Islands enacted the Limited Partnership (Amendment) Act, 2023 to amend the Limited Partnership Act, Revised Edition 2020. The legislation modifies Section 108 by requiring that qualifying documents or information be retained for a period of five years from the date of dissolution of the limited partnership. The Act was passed on March 10, 2023, and comes into force on a date appointed by the Minister via Gazette notice.
1 No. 12 of 2023 VIRGIN ISLANDS LIMITED PARTNERSHIP (AMENDMENT) ACT, 2023 ARRANGEMENT OF SECTIONS SECTION
- Short title and commencement
- Section 108 amended
2 No. 12 of 2023 Limited Partnership Virgin (Amendment) Act, 2023 Islands I ASSENT (Sgd.) John Rankin CMG, Governor. 20th March, 2023 VIRGIN ISLANDS No. 12 of 2023 AN ACT TO AMEND THE LIMITED PARTNERSHIP ACT, REVISED EDITION 2020, AND FOR OTHER MATTERS CONNECTED THEREWITH. [Gazetted 21st March, 2023] ENACTED by the Legislature of the Virgin Islands as follows: Short title and commencement
- (1) This Act may be cited as the Limited Partnership (Amendment) Act,
(2) This Act shall come into force on such date as the Minister may, by Notice published in the Gazette, appoint. Section 108 amended 2. Section 108 of the Limited Partnership Act, Revised Edition 2020, is amended in subsection (7)(a) by adding after the words “document filed”, the words “for a period of 5 years from the date of dissolution of the limited partnership to which the qualifying document or information relates”. Passed by the House of Assembly this 10th day of March, 2023. (Sgd.) Corine N. George-Massicote, Speaker. (Sgd.) Phyllis Evans, Clerk of the House of Assembly.