The Limited Liability Partnerships Law was supposed to improve the options for businesses but instead caused political uproar when it was debated ten years ago.
At the time, senior States Members were accused of bowing to pressure from the private sector in order to fast-track the drafting process.
But Economic Development now say that the law could have advantages for Jersey business if it was reworked and have this week sent out a consultation paper asking for comments.
Robert Kirkby, technical director at Jersey Finance, said that the 1997 LLP law was designed for professional firms and not for general use by the finance industry. He said the finance industry would now welcome a new option which they could offer to clients.
