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Written question asked by Baroness Hodge of Barking (Labour) on Thursday, 16 November 2023, in the House of Commons. It was due for an answer on Monday, 20 November 2023. It was answered by Kevin Hollinrake (Conservative) on Friday, 24 November 2023 on behalf of the Department for Business and Trade.

Limited Liability: Registration

Question

To ask the Secretary of State for Business and Trade, if she he will take steps to expand the person of significant control regime to English and Welsh Limited Partnerships.

Answer

There are currently no plans to expand the People with Significant Control framework to English and Welsh limited partnerships, which do not have a separate legal personality distinct from their partners.

The Economic Crime and Corporate Transparency Act 2023 makes the largest reforms to the law governing limited partnerships since 1907. Under these reforms, all general partners will have to verify their identities, and much more information will be required on the partners of all limited partnerships, leading to greater transparency. Companies House will also have greater powers to challenge, reject, share and remove suspicious information relating to limited partnerships.

Secondary information

Type
Written question
Reference
2244
Session
2023-24
Subjects
Registration Limited liability
Link
View this Written question on www.parliament.uk