JerseyNZ and Link Livestock Ltd form Limited Liability Partnership
The Board of JerseyNZ advises members that effective from 1 February 2024 a Limited Liability Partnership will be established with Link Livestock as the General Partner and NZ Jersey Cattle Breeders Assn (Inc) trading as JerseyNZ as the Special Partner. The aim of this partnership is to extend the tax-exempt status of JerseyNZ to any dividend received from Link Livestock.
Link Livestock Ltd will change to CattleLink Limited Liability Partnership trading as Link Livestock. There will be no material change for JerseyNZ. The formation of the Limited Liability Partnership does not require any constitution or by-law changes, and the accounts of JerseyNZ will continue to be audited annually. There will no change to the governance structure of either JerseyNZ or Link Livestock.
Members will be provided more information on Limited Liability Partnerships in the upcoming Jersey Focus.