Home / CY AIF Law of 2018 / PART ΙΙ: PROVISIONS REGARDING THE ALTERNATIVE INVESTMENT FUNDS / Chapter 8: Special provisions / Part 3 - Limited Partnerships / [65] General provisions regarding the limited partnership.
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65.General provisions regarding the limited partnership.
(1) An AIF which operates in the form of a limited partnership, with separate legal personality, can be-
(a) either an internally managed AIF, where the general partner shall undertake the AIF management functions, or
(b) an internally managed AIF, where, without prejudice to article 6(2)(b), the external manager, appointed by the general partner, shall undertake the AIF management functions:
It is provided that, the provisions of paragraph (b) applies to AIFLNPs, as if the reference to article 6(2)(b) is a reference to article 125(1)(b).
(2) An AIF which operates in the form of a limited partnership, without separate legal personality, shall always appoint an external manager to undertake the AIF management in accordance with article 6(2)(b):
It is provided that, the provisions of paragraph (b) applies to AIFLNPs, as if the reference to article 6(2)(b) is a reference to article 125(1)(b).
(3) AIFs which operate as a limited partnership are governed by the provisions of this Law and, in relation to any issues not addressed in this Law, by the provisions of the General and Limited Partnerships and Business Names Law, provided that it is not in conflict with the provisions of this Law.
(4) By way of derogation from section (3), articles 3(2), 34 to 36, 47(3) and 53 of the General and Limited Partnerships and Business Names Law, shall not apply to AIFs which operate in the form of a limited partnership.
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