Gibraltar proposes new legislation introducing Private Foundations and amending the Limited Liability Partnerships Act.

By added on 21/10/2015

HM Government of Gibraltar is pleased to publish today for public consultation the proposed legislation for Private Foundations Act 2015 and the Limited Liability Partnerships Act (Amendment) Regulations 2015. The closing date for representations to be made is the 30th November 2015, reports the Gibraltar Ministry of Finance & Gaming.

The draft legislation in respect of the Private Foundations Act can be found on the Gibraltar Laws website as a Command Paper. Proposed regulations for Limited Liability Partnerships will be issued by way of a notification and subsequent circulation via the Finance Centre Council.

Responses should be sent to Paul Astengo, Gibraltar Finance, Suite 761 Europort, Gibraltar by the closing date.

Government is delighted to now complete the legislative measures it has worked on with the Finance Centre Council and is grateful to those members of the private sector who have worked in assisting Government in delivering these initiatives and enabling it to continue providing legislation that will allow practitioners to offer client solutions in the ever changing world environment.

The consultation process will enable Government to engage directly with professionals in the private sector on these important developments.