♦ On 4th March, 2022, the Ministry of Corporate Affairs (MCA) has issued the Limited Liability Partnership (Second Amendment) Rules, 2022 which is yet to be published in the Official Gazette.
♦ There are some major changes which are brought by such amendment and it is very important to note such changes.
♦ Following are the summary of major changes which are brought by the MCA through amendment notification;
|
SR. NO. |
MAJOR CHANGES/ AMENDMENTS |
| 1. | ♦ Amendment in Rule 11(1):
In FiLLiP form now 5 DINs can be applied at the time of incorporation; ♦ Amendment in Rule 11(3): PAN & TAN will be allotted with the Certificate of Incorporation in FORM 16; |
| 2. | ♦ Amendment in Rule 24(6):
Statement of Accounts and Solvency shall be signed on behalf of the LLP by its Designated Partners. However, where the Corporate Insolvency Resolution Process has been initiated against the LLP under the IBC, 2016 or the LLP Act, 2008 has come under the liquidation under the said code or the said Act then the Statement of Account and Solvency MAY BE signed on behalf of the LLP by Interim Resolution Professional or Resolution Professional or Liquidator or Administrator of LLP. |
| 3. |
♦ Amendment in Rule 24(6): If the Corporate Insolvency Resolution Process has been initiated against the LLP under IBC, 2016 or LLP Act, 2008 having turnover upto Rs.5 Crore during the corresponding financial year or contribution upto Rs.50 Lakhs has come under liquidation under the said Code or the said Act, then the Annual Return MAY BE signed on behalf of LLP by Interim Resolution Professional or Resolution Professional or Liquidator or Administrator of LLP AND NO CERTIFICATION OF DESIGNATED PARTNER SHALL BE REQUIRED. |
| 4. | In Form FiLLiP, the basic details of the Designated Partners can be fetched from the Digi Locker Database; |
| 5. | LLP Formation Process has became web based like the SPICE+ Forms; |
| 6. | In Form FiLLiP, Latitude and longitude of the address of the Registered Office of the LLP is compulsory to mention; |
| 7. | All e-forms of LLP have now become web based like SPICE+; |
| 8. | It shall be noted that every change in LLP Deed will have to be marked in Form 3 with precise information. (Earlier just deed was to be attached); |
| 9. | Now, Form 8 (Statement of Solvency and Annual Return) will specifically include Contingent Liability reporting; |
| 10. | Now, Form 9 [Consent of to act as a Partner] will be web based (earlier, it was offline format which has to be physically signed by the Partners1). |
| 11. | As Form 9 has become web based, resultantly, all Designated Partner’s Digital Signatures will be required at the time of Incorporation of LLP;
[Earlier only 1 DSC of any one DP was required.] |
| 12. | Now, Penalties and Compounding of offences shall be mentioned in the Form 11 (Annual Return); |
| 13. |
Place of maintenance of Accounts other than Registered office of LLP where service of notice can be made is notified shall be intimated in Form 12. |
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