Administration

A limited partnership is collectively constituted by its partners and must adhere to the conditions applicable to ordinary partnerships, including the necessity for at least one general partner. Limited partnerships must be registered with the Companies Registration Office and have a place of business in Ireland.

In terms of management, general partners predominantly handle business operations, while limited partners are typically investors without managerial involvement. Limited partners must contribute capital, and their liability is restricted to the extent of their investment. Withdrawals of capital during the partnership are prohibited.

Limited partners have rights to inspect partnership books but are not permitted to participate in management. If they do so, they assume unlimited liability for partnership debts. Limited partners lack authority to bind the partnership and are not involved in litigation or agency matters.

Initial registration requires the filing of details including the firm’s name, business nature, partner names, and contributions. Changes to registered details must be promptly notified to the Registrar of Companies. Notices of any partner changes must be advertised, and the Registrar maintains public records of limited partners.

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