The Ministry of Corporate Affairs, vide notification dated June 05, 2012, has amended the Limited Liability Partnership Rules, 2009. These rules may be called the Limited Liability Partnership (Amendment) Rules, 2012. This notification shall be came in force w.e.f. June 11, 2012.
Following changes have been made through this notification:
1. In case of incorporation, the individual who has given consent to act as a partner or designated partner shall file consent in Form-2 along with fee mentioned in annexure- “A”
2. In rule 18 sub-rule (2):
- Clause (ix) proviso shall be inserted, as per this proviso if the “No Objection Certificate” is granted by the registered Limited Liability Partnership or company the name shall be reserved.
- Clause (xiii) shall be substituted by following:
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 but the approval of regulatory authority shall be obtained at the time of incorporation or change of name of name of existing Limited Liability Partnership.
3. In clause (xvi) proviso shall be inserted, as per this proviso at the time of incorporation or change of name of Limited Liability Partnership the approval of the council governing the profession shall be obtained.
4. In said rules, for Form 1 to 31, some forms shall be substituted by new forms.
The detailed notification can be read by clicking on the following link:
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