Statutory
Register of LLP
MCA Notification Dated: 27.10.2023.
(02nd December 2023)
SHORT SUMMARY:
The
author will cover the "Details about Statutory Registers of LLP "
in this column.
The
MCA has issued a Notification. Dated: October 27th, 2023 -Subject: Limited
Liability Partnership (Third Amendment) Rules, 2023.
The
concept of LLP introduced in India in 2008. Since 2008 there have been no
provisions of mandatory preparation of Statutory Registers in LLP. However, now
the government is increasing compliances on LLP and seems want to control the
LLP like Companies.
The
Ministry of Corporate Affairs, in its drive to enhance transparency, investor
protection and corporate governance, has notified amendments in the LLP Act,
2008 read with LLP Rules.
In
accordance with the said rules, LLP’s also have to prepare the Statutory
Registers of LLP’s.
MCA has given 30 days’ time to all the LLP in existence on 27
October 2023 prepare statutory registers till 26 November 2023.
Provisions
of LLP Act, 2008:
·
Rule 22A- Register of
Partners
The
latest amendment in LLP Rules in respect of Statutory Registers are applicable to
all the LLP’s (Small or Non-Small).
It
is applicable on the LLP’s is in existence on the date of amendment i.e. 27
October, 2023 and all the LLP’s to be incorporated on or after 27 October,
2023.
Small
Company
“Small
Limited Liability Partnership” means a limited liability partnership—
v the contribution of
which, does not exceed twenty-five lakh rupees (Rs. 25,00,000/-) or such higher
amount, not exceeding five crore rupees, as may be prescribed; and
v the turnover of
which, as per the Statement of Accounts and Solvency for the immediately
preceding financial year, does not exceed forty lakh rupees (Rs. 40,00,000/-)
or such higher amount, not exceeding fifty crore rupees, as may be prescribed;
or
which
meets such other requirements as may be prescribed, and fulfils such terms and
conditions as may be prescribed;’;
INTRODUCTION
MCA
has added Rule 22A after Rule 22. As per the amendment,
Every
limited liability partnership shall,
ü from
the date of its incorporation,
ü maintain
a register of its partners in Form 4A
ü which
shall be kept at the registered office of the limited liability partnership:
Que : What is form No in which Partners
Register required to be prepared? (DG)
Ans: The LLP Partner
register should be prepared on Form 4A. if you want format drop msg to us on
WhatsApp with your details.
A.
Information required to mention in the Register of
Partner:
The register of partners shall contain the following
particulars, in respect of each partner, namely: -
a)
name of the partner;
b)
address (registered
office address in case the member is a body corporate);
c)
e-mail address;
d)
Permanent Account
Number or Corporate Identification Number;
e)
Unique Identification
Number, if any;
f)
father or mother or
spouse’s name;
g)
occupation; status;
h)
Nationality;
i)
name and address of
nominee;
j)
date of becoming
partner;
k)
date of cessation;
l)
amount and nature of
contribution (indicating tangible, intangible, movable, immovable or other
benefit to the limited liability partnership, including money, promissory
notes, other agreements to contribute cash or property, and contracts for
services performed or to be performed) with monetary value; and
m) any
other interest, if any,
PROCESS
OF COMPLIANCES:
A.
LLP in Existence on 27 October 2023:
A LLP which is in existence on 27 Oct 2023 needs to prepare
Register of Partner within 30 days (i.e. 26 Nov 2023) of commencement of these rules.
A.
LLP have to accumulate information of partners since
Incorporation.
B. LLP Agreement are the most reliable
source to accumulate information.
C. Details in Partner register should be
in pattern from first partner to till date.
Que: Whether
LLP can prepare register with details of partner as on 27 October 2023 instead
of earlier information? (DG)
Ans: As
per Rule 22A Every limited liability partnership shall, from the date of its
incorporation, maintain a register of its partners in Form 4A. Therefore, it is
mandatory to mention the information of all the partners since incorporation.
B. LLP
Incorporated on or after 27 October 2023:
Every LLP Incorporated on or after 27 October 2023 need to
prepare register of Partner immediately after Incorporation of the LLP.
C. Any
amendment in Register of Partners:
The entries in the register maintained under this rule shall
be made within seven days pursuant to any change made in the contribution
amount, or in name and details of the partners in the Limited Liability
Partnership agreement, or in cases of cessation of partnership interest.
Author – CS
Divesh Goyal, GOYAL DIVESH & ASSOCIATES Company Secretary in Practice from
Delhi and can be contacted at csdiveshgoyal@gmail.com).
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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
professional advice and is subject to change without notice. I assume no
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