Section-wise Impact of LLP Amendment Act, 2021
13th August 2021
Both houses of Parliament has approved LLP Amendment Bill, 2021. Finally, the same got the approval of President of India on 13th August 2021 and become LLP Amendment Act, 2021. This is Act no. 31 of 2021. This Amendment Act shall amend the LLP Act, 2008.
| S.NO | Section of The LLP Act, 2008 | Section Name in LLP Act, 2008 | Section wise Effect | New Section Insertion |
| 1 | Section-1 | Short title and commencement | ||
| 2 | Section-1 | Short title and commencement | Subsituted | |
| 3 | Section-2 | Definitions | Subsituted | |
| 4 | Section-7 | Designated Partner | Subsituted | |
| 5 | Section-10 | Punishment for Contravention of Section -7,8 and 9 | Figure 8 shall be omitted | |
| 6 | Section-13 | Registered office of LLP and change therein | Subsituted | |
| 7 | Section-15 | Name of LLP | Subsituted | |
| 8 | section-17 | Change of Name of LLP | Subsituted | |
| 9 | Section-18 | Application for direction to change name in certain circumstances | omitted | |
| 10 | Section-21 | Publication of name and Limited Liability | Subsituted | |
| 11 | Section-25 | Registration of changes in partners | Subsituted | |
| 12 | Section-30 | Unlimited Liability in case of fraude | Subsituted | |
| 13 | Section-34 | Maintanance of books of accounts, other records and audit, etc. | Subsituted | |
| 14 | Section-34 | Maintanance of books of accounts, other records and audit, etc | Inserted | Section-34A |
| 15 | Section-35 | Annual Return | Subsituted | |
| 16 | Section-39 | Compounding of offences | Subsituted | |
| 17 | Section-60 | Compromise, or arrangement of LLP | Subsituted | |
| 18 | Section-62 | Provisions for facilitating reconstruction or amalgamation of LLP | Subsituted | |
| 19 | Section-67 | Application of provision of Companies Act | Inserted | Section -67A, 67B and 67C |
| 20 | Section-68 | Electronic Filling of documents | Inserted | Section-68A |
| 21 | Section-69 | Payment of additional fee | Subsituted | |
| 22 | Section-72 | Jurisdiction of tribunal and appellate tribunal | Subsituted | |
| 23 | Section-73 | Penalty on non compliance of any order passed by tribunal | omitted | |
| 24 | Section-74 | General Penalty | Subsituted | |
| 25 | Section-76 | Offences by LLP | Instered | Section-76A |
| 26 | Section-77 | Jurisdiction of Court | Subsituted | |
| 27 | Section-79 | Power to make rules | Subsituted | |
| 28 | Section-80 | Power to remove difficulties | Instered | Section-80(1A) |
| 29 | Section-81 | Transitional provisions | omitted |
Author – CS Divesh Goyal, GOYAL DIVESH & ASSOCIATES Company Secretary in Practice from Delhi and can be contacted at [email protected]).
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