The Central Government on February 11, 2022 issued various
notifications related to Limited Liability Partnership
("LLP").
The Limited Liability Partnership (Amendment) Act, 2021
("Amendment Act") which was notified on August 13, 2021
has been made applicable on LLP with effect from April 1, 2022.
The Amendment Act introduced the concept of small/start up LLP,
decriminalization of offences, compounding of offences,
adjudication of penalties, rectification of name of LLP,
differential fee structure etc. The Amendment Act has altered the
overall structure of the LLP Act, 2008
("Act") and now the Act has
substantially been aligned with the Companies Act, 2013.
In order to align the LLP Rules, 2009 with the Amendment Act,
Central Government vide another notification dated February 11,
2022, notified the Limited Liability Partnership (Amendment) Rules,
2022 thereby amending rule 5, 18 and 19 of the LLP Rules, 2009.
Further, the new rules 19A, 37A, 37B, 37C and 37D
