Introduction of Limited Liability Law Partnerships
The amendment to the Legal Profession Act introducing limited liability law partnerships comes into effect on 4 Dec 2006.
The Legal Profession (Amendment) Act 2005 (Act 41 of 2005) introduced the limited liability partnership ('LLP') structure for law practices and amended the Legal Profession Act (the 'Act') to include a new Part VIB governing limited liability law partnerships ('law LLPs'). Act 41 of 2005 has come into operation on 4 December 2006 via the Legal Profession (Amendment) Act (Commencement) Notification 2006 gazetted on 4 December 2006.
The Legal Profession (Limited Liability Law Partnership) Rules 2006 enacted under the Act by the Minister for Law and relevant consequential amendments to other Rules (the 'Rules') have been gazetted on 8 December 2006 and come into effect on 1 January 2007.
The Legal Profession (Amendment) Act 2005 (Act 41 of 2005) introduced the limited liability partnership ('LLP') structure for law practices and amended the Legal Profession Act (the 'Act') to include a new Part VIB governing limited liability law partnerships ('law LLPs'). Act 41 of 2005 has come into operation on 4 December 2006 via the Legal Profession (Amendment) Act (Commencement) Notification 2006 gazetted on 4 December 2006.
The Legal Profession (Limited Liability Law Partnership) Rules 2006 enacted under the Act by the Minister for Law and relevant consequential amendments to other Rules (the 'Rules') have been gazetted on 8 December 2006 and come into effect on 1 January 2007.
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