MCA Notifies Amendments To The LLP Rules, 2009

On October 27, 2023, the Ministry of Corporate Affairs, in exercise of its powers under sub-sections (1) and (2) of Section 79 of the Limited Liability Partnership Act, 2008 ("LLP Act"), issued a notification to amend the Limited Liability Partnership Rules, 2009 ("LLP Rules"). The amended rules make several significant changes to the extant LLP Rules, primarily related to the register of partners and beneficial interests in the contributions of the Limited Liability Partnership ("LLP"). The significant updates made to the LLP Rules have been summarised below:

1. Register of Partners (Rule 22A):

Rule 22A of the LLP Rules now requires that every LLP must maintain a register of its partners in Form 4A (annexed to the amended LLP Rules)—which ought to be kept at the registered office of the LLP. While the LLP Rules now require that any new LLP maintains such a register from the date of its incorporation, existing LLPs are required to comply with this requirement