Investment Limited Partnerships (Amendment) Act 2020

Amendment of Act of 2015 - new section 8A relating to capacity of ICAVs

45. The Act of 2015 is amended by the insertion of the following section after section 8:

“Capacity not limited by an ICAV’s instrument of incorporation

8A. (1) The validity of an act done by an ICAV shall not be called into question on the ground of lack of capacity by reason of anything contained in the ICAV’s instrument of incorporation.

(2) Nothing in subsection (1) affects the duty of the directors of an ICAV to observe any limitation on their powers.”.