Home Annual Filing - Draft - 2020-21 Section-wise Impact of LLP Amendment Act, 2021

Section-wise Impact of LLP Amendment Act, 2021

by CS Divesh Goyal
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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 csdiveshgoyal@gmail.com).

Disclaimer: The entire contents of this document have been prepared based on relevant provisions and as per the information existing at the time of the preparation. Although care has been taken to ensure the accuracy, completeness, and reliability of the information provided, I assume no responsibility, therefore. Users of this information are expected to refer to the relevant existing provisions of applicable Laws. The user of the information agrees that the information is not a piece of professional advice and is subject to change without notice. I assume no responsibility for the consequences of the use of such information.

IN NO EVENT SHALL I SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM, ARISING OUT OF OR IN CONNECTION WITH THE USE OF THE INFORMATION

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