This link has been bookmarked by 1 people . It was first bookmarked on 30 Aug 2008, by Malis Uon Men.
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30 Aug 08
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Abernethy believes the rule prohibiting limited partners' involvement in management is confusing and outdated
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general and limited partners.
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eneral partners transact the business of the partnership while limited partners are passive investors and are liable only to the extent of their capital contribution to the partnership.
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main concern with the proposed legislation is the adoption of the so-called "control rule",
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imited partners lose the benefits of limited liability
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be to do away with the control rule
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-called "control rule"
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, otherwise known as "safe harbours"
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This rule has led to uncertainty and costs for market participants in the administration of limited partnerships worldwide
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Gully would like to see New Zealand provide a more secure environment for limited partners by re
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e control rule and the need for safe harbours.
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