Investment Limited Partnerships (Amendment) Act 2020

Amendment of section 38 of Act of 1994

35. Section 38 of the Act of 1994 is amended—

(a) in subsection (1), by the substitution of “and delivered to the Bank.” for “, delivered to the Bank and published in Iris Oifigiúil.”, and

(b) in subsection (4) —

(i) by the deletion of “and the general partner shall cause a notice to be placed in Iris Oifigiúil to that effect”, and

(ii) by substitution of “such of the one or more general partners, and such of the one or more limited partners, as hold themselves out as conducting or purporting to conduct the business of the investment limited partnership shall be liable for the debts and obligations purportedly incurred on behalf of the investment limited partnership thereafter” for “the limited partners shall be liable for the debts and obligations purportedly incurred on behalf of the investment limited partnership thereafter”.