Jersey bill still not home and dry
Jersey’s limited liability partnership legislation passed its third and final reading on the island on Tuesday, but not without criticism and controversy.
Island politicians backed the revised law, containing several amendments to its original draft, by 38 votes to seven. The law, offering protection to innocent partners’ assets if their firm is sued, will now go for scrutiny to the UK Privy Council. But the possibility of a challenge to the law in the House of Commons was raised during the debate. Opponents believe an early day motion will be called in a late bid to scupper the proposed legislation.
An independent inquiry into the handling of the draft legislation was also proposed, but details will not be announced for two weeks.