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Legislative Programme

Dáil Éireann Debate, Tuesday - 15 September 2020

Tuesday, 15 September 2020

Ceisteanna (284)

Neale Richmond

Ceist:

284. Deputy Neale Richmond asked the Minister for Finance his plans to reintroduce the Investment Limited Partnership (Amendment) Bill 2019; when he expects to have it enacted; and if he will make a statement on the matter. [23829/20]

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Freagraí scríofa

The publication and enactment of the Investment Limited Partnership (Amendment) Bill is an important step to maintain Ireland’s place as a leading funds domicile in Europe. The commitment to progress the revision of the Investment Limited Partnership structure was recognised in the Programme for Government – Our Shared Future. It is also a strategic priority set out in “Ireland for Finance - Strategy for the development of Ireland’s international financial services sector to 2025".

The Investment Limited Partnership (Amendment) Bill 2019 passed all stages in Dáil Eireann, but significant amendments were flagged relating to beneficial ownership and transparency standards.

It is my intention to ensure that the same standards of transparency and beneficial ownership apply across all of Ireland’s investment fund vehicles. I will seek the approval of Government to publish a new Bill in the coming weeks which includes beneficial ownership requirements for Investment Limited Partnerships and Common Contractual Funds.

Once the Government has approved the publication of the Bill, it is my intention that the legislative process begin in the Oireachtas as soon as possible afterwards with the intention of enacting the legislation by year end.

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