Thursday, 31 January 2019

Ceisteanna (69)

Michael McGrath

Ceist:

69. Deputy Michael McGrath asked the Minister for Finance when he expects to introduce the investment limited partnership and Irish collective asset-management vehicle (amendment) Bill; and if he will make a statement on the matter. [4895/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

As evidenced in the IFS2020 Action Plan, the Government is committed to developing our Investment Limited Partnership Act 1994 to make the structure more attractive to fund managers. Due to changes in the global private equity market, in both structure and relevant European legislation, a case has been made to update the 1994 Act.

As a result, I sought and obtained approval from the Government for the preparation of the necessary "Heads" for legislation in 2017. This is a complex policy matter and the draft legislation is currently being prepared. My officials are working with the draftsman and other stakeholders to arrive at a Bill which would be suitable for publication. The Bill is a priority on the Government's legislative programme and, subject to other Government priorities, the intention is for the Bill to be published shortly.