The principal aim of this Bill is to further improve the Territory’s cooperation regime as it relates to the availability of accounting records to competent authorities. The Bill introduces a requirement for records kept and maintained for the purposes of section 54 of the Act to be provided to registered agents by limited partnerships that will cease to exist by virtue of merger or consolidation (where a limited partnership is not the surviving limited partnership) and limited partnerships that continue out of the Virgin Islands under the laws of a foreign jurisdiction. Where a registered agent is in receipt of the records, accounts and documents of a limited partnership that seeks to exist by virtue of merger, consolidation or voluntarily liquidation, or continues outside of the Virgin Islands, the Bill introduces a requirement for the registered agent to maintain the records, accounts and documents for a period of at least 5 years from the date of receipt of the records, accounts and documents, and to provide that information to the Commission and other competent authorities upon request. These requirements are considered essential in ensuring that all records, accounts and documents for such limited partnerships will be available to competent authorities in a timely manner, for at least 5 years.