The Ministry of Corporate Affairs (MCA) is planning to extend several provisions from the Companies Act, 2013, to the LLP Act, 2008. These changes, which will be applied with modifications, aim to enhance the regulatory framework for Limited Liability Partnerships. Key areas affected include the register of significant beneficial owners, director disqualifications, limits on directorships, and powers for information gathering and inquiries.
MCA has issued an announcement regarding the planning of extension of a few of the provisions of the Companies Act, 2013 with some modifications and adaptations, to the LLP Act, 2008 vide its power drawn from Section 67(1) of the LLP Act, 2008. Read the official announcement below:
ANNOUNCEMENT
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FAQ :
The MCA is planning to extend certain provisions of the Companies Act, 2013, to the LLP Act, 2008, with some modifications and adaptations.
The sections being considered include those related to the register of significant beneficial owners, disqualifications for appointment of director, number of directorships, vacation of office of director, power to call for information and conduct inquiries, appeal to the tribunal, and offences being non-cognizable.
The extension is being planned under the power drawn from Section 67(1) of the LLP Act, 2008.
Limited Liability Partnerships (LLPs), Partners, and Designated Partners are advised to take note of this announcement for appropriate action.
The official announcement is available on the MCA website at http://www.mca.gov.in/