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MCA Notifies Limited Liability Partnership (Second Amendment) Rules, 2022
The Ministry of Corporate Affairs (MCA) vide its Notification dated 04th March, 2022 has published Limited Liability Partnership (Second Amendment) Rules, 2022 to further amend the existing Limited Liability Partnership Rules, 2009. The said amendment shall come into force on the date of its publication in the Official Gazette.
The following amendments have been notified:
- Substitution in Rule 11(1): Second proviso for the word “two”, the word “five” shall be substituted.
- Insertion in Rule 11(3): After the words and figures “Form 16” the following words shall be inserted: “and shall mention Permanent Account Number and Tax Deduction Account Number issued by the Income Tax Department.”
- Substitution in Rule 19(4): The person making the application shall attach a copy of the incorporation certificate of the limited liability partnership or the company or the registration certificate of the entity, as the case may be.
- Substitution in Rule 24(6): Statement of Account and Solvency shall be signed on behalf of the limited liability partnership by its designated partners. Where the Corporate Insolvency Resolution Process has been initiated against the limited liability partnership under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) or the Limited Liability Partnership Act, 2008 (06 of 2009) has come under liquidation under the said Code, 2016 or the said Act, 2008, the said Statement of Account and Solvency may be signed on behalf of the limited liability partnership by interim resolution professional or resolution professional, or liquidator or limited liability partnership administrator.
- Insertion in Rule 25(2) proviso: Provided that where the Corporate Insolvency Resolution Process has been initiated against the limited liability partnership under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) or the Limited Liability Partnership Act, 2008 (06 of 2009) having turnover upto five crore rupees during the corresponding financial year or contribution upto fifty lakh rupees has come under liquidation under the said Code, 2016 or the said Act, 2008, the said annual return may be signed on behalf of the limited liability partnership by interim resolution professional or resolution professional, or liquidator or limited liability partnership administrator and no certification by a designated partner shall be required.
- Substitution in Rule 34(3)(ii)(c): For the words and figures “Form 29”, the words and figures “Form 28” shall be substituted.
- Substitution in Rule 34(8): For the words and figures “Form 29”, the words and figures “Form 28” shall be substituted.
- Substitution in Rule 37(1A)(II): For the words and figures “enclose along with Form 24”, the words and figures “furnish in Form 24” shall be substituted.
