Central Govt. notifies Limited Liability Partnership (Amendment) Act, 2021, introduces the concept of small LLPs, decriminalizes certain offences ; effective from 1st April, 2022
The Central Government has appointed 1st April, 2022 as the date on which the Limited Liability Partnership ( Amendment) Act, 2021 will gain the force of law.
The LLP Amendment Act, 2021 is meant to support the ‘ease of doing business’ initiative, as the amendments provide for decriminalizing certain offences, introducing the concept of small LLPs, appointment of adjudicating officers/ special courts, etc. This will help the small business houses to do their business by incorporating LLPs without fear of prosecution, reduced compliances and their costs, etc.
For details on the changes please refer to the trail.
Source : Ministry of Corporate Affairs
