Limited Partnerships (General Provisions) (Jersey) Order 1994

Summary

This Order sets the rate of interest payable under the Limited Partnerships (Jersey) Law 1994 when a limited partnership owes a partner a share of profits or a return of contribution. It is a short, technical provision rather than a general regulatory framework, and remains in force in its current consolidated form.

• Scope: Applies to interest on payments representing a limited partner's share of profits under Article 14 of the Limited Partnerships (Jersey) Law 1994.
• Scope: Applies to interest on payments representing the return of a limited partner's contribution under Article 17 of that Law.
• Rate: Interest is simple interest calculated at 2 percentage points above the base rate from time to time of Barclays Bank plc.

The Order does not impose reporting, filing, or licensing requirements; it simply fixes the applicable interest rate for these two specific categories of payment obligation between a limited partnership and its limited partners.

Key obligations

• When a limited partnership owes a limited partner a share of profits (Article 14) or a return of contribution (Article 17) and interest is payable, it must be calculated as simple interest at 2 percentage points above Barclays Bank plc's base rate from time to time.

Applies to

limited partnerships, limited partners, general partners of limited partnerships

Related documents

• This document is made under Limited Partnerships (Jersey) Law 1994