Limited Liability Partnership (Amendment) Rules, 2012

Posted: 16/06/2012 in LLP, MCA, Notifications, Rules

Notification, [F.No. 1/1/2011-CL-V], dated 05.06.2012

In exercise of the powers conferred by sub-section (1) of section 79 of the Limited Liability Partnership Act, 2008 (6 of 2009), the Central Government hereby makes the following rules further to amend the Limited Liability Partnership Rules, 2009 namely:-

1. (1) These rules may be called the Limited Liability Partnership (Amendment) Rules, 2012.

(2) They shall come into force with effect from 11th June, 2012.

2. In the Limited Liability Partnership Rules, 2009 (hereinafter referred to as the said rules), after rule 8, the following proviso shall be inserted, namely:-

Provided that in case of incorporation, the individual who has given consent to act as partner or designated partner shall file consent in Form-2 along with fee as mentioned in annexure-A.”

3. in the said rules, in rule 18, in sub-rule (2) –

(a)  in clause (ix), the following proviso shall be inserted, namely:-

‘Provided that the name shall be reserved, in case the “No Objection Certificate” is granted by the registered Limited Liability Partnership or company, as the case may be’;

(b)  for clause (xiii), the following clause shall be substituted, namely:-

“(xiii) it includes words like ‘Bank’, Insurance’, and ‘Banking’, ‘Venture capital’ or ‘mutual fund’ or business activity includes the words like ‘Bank’, Insurance’, and ‘Banking’, ‘Venture capital’ or ‘mutual fund’ or such similar names without the approval of regulatory authority:

Provided that the approval of regulatory authority shall be obtained at the time of application for incorporation or change of name of an existing Limited Liability Partnership, as the case may be.”;

(c)  in clause (xvi), the following proviso shall be inserted, namely:-

Provided that the approval of the council governing the profession shall be obtained at the time of application for incorporation or change of name of an existing Limited Liability Partnership, as the case may be.”

4. In Annexure ‘A’ of the said rules, –

(a)  after para 3, the following para shall be inserted, namely:-

“3A. For filing, registering or recording notice of appointment, cessation, change in name, address, designation of a partner or designated partner, intimation of Designated Partner Identification Number and consent to become a partner or designated partner in Form 4.      Rs. 50”;

(b)  in para 4, after item (e), the following item shall be inserted, namely :-

“(f) An application for striking off name of defunct Limited Liability Partnership under rule 37       Rs. 500”.

5. In the said rules, for Forms 1 to 31, the following forms shall be substituted, namely:-

…………..

Click here to download the complete text of the above Notification in PDF Format- G.S.R. (E) dated 05.06.2012.

Source: Ministry of Corporate Affairs.

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