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LegCo Online Up-date: LLP Bill expected first half of the 2009 – 2010 session
2009-05-25 Dear Colleagues, The Department of Justice has assured LegCo members at a meeting of the Panel of Justice and Legal Services held on 25 May 2009 that drafting instructions has already been issued to the Law Draftsman for the bill introducing Limited Liability Partnership for solicitors. The bill is expected to be introduced to LegCo in the first half of the 2009 – 2010 session. DOJ reported to members that the Government and the Law Society have reached agreement on all major issues. The only disagreement remaining is whether limited liability should extend to ordinary debts of business such as rent and salaries. In its submissions to the Panel, the Consumer Council raised concerns about reduced protection for clients, and urged the Law Society to consider measures to counter-balance this with measures to maintain public confidence such increasing insurance coverage and greater transparency. Members of the Panel supported the introduction of LLP as soon as possible and believed that the concerns of the Consumer Council can be suitably addressed. The Government agreed to report to the Panel again early in the new session. Margaret Ng Links to papers: 1. Limited liability partnerships for legal practice http://www.legco.gov.hk/yr08-09/english/panels/ajls/papers/aj0525cb2-1608-1-e.pdf 2. Consumer Council’s Submission to the Legislative Council http://www.legco.gov.hk/yr08-09/english/panels/ajls/papers/aj0525cb2-1618-4-e.pdf 3. Administration's letter dated 3 April 2009 on various issues relating to the legislative proposal on limited liability partnerships for legal practice http://www.legco.gov.hk/yr08-09/english/panels/ajls/papers/aj1216cb2-1250-1-e.pdf |
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