Minister Donohoe announces approval for legal drafting of proposed amendments to the Investment Limited Partnership (Amendment) and amendments to the Irish Collective Asset-management Vehicles Act 2015 Bill

18.07.17

The Minister for Finance and Public Expenditure and Reform, Paschal Donohoe T.D., announced today that Government has approved the legal drafting of the Investment Limited Partnership (Amendment) Bill, 2017.

Drafting of technical amendments to the Irish Collective Asset-management Vehicles Act 2015 to assist with that Act’s operation was also agreed.

Speaking this morning, the Minister for Finance and Public Expenditure and Reform said:

“This is a further step towards ensuring that Ireland remains one of the leading funds domiciles in Europe. The revised Investment Limited Partnership structure will stand alongside the Irish Collective Asset-management Vehicle as a symbol of Ireland’s commitment to grow the funds sector while retaining a sound regulatory environment.”

Noting today’s Cabinet approval of the general scheme, Michael D’Arcy, Minister of State for Financial Services commented:

“I welcome Cabinet approval of this key 2017 action under the Government’s IFS 2020 Strategy – a strategy that aims to maintain and enhance Ireland’s status as a leading European financial centre.  I look forward to working with all stakeholders over the coming months to advance this important piece of financial services legislation.”

 

ENDS

 

Contact:

Richard Troy, Advisor to Minister of State D’Arcy: 087 064 1625

Deborah Sweeney, Press Adviser to Minister Donohoe: 086 858 6878

Press Office: pressoffice@finance.gov.ie 01-676 0336

 

Note to Editors 

See action 34 of the 2017 action plan under the wider IFS 2020 Strategy - http://www.finance.gov.ie/sites/default/files/17-01-16%20IFS2020%20Action%20Plan%20FINAL%20for%20web_0.pdf