Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023. - F. No. 17/30/2018-CL-V - G.S.R. 832 (E) - Limited Liability Partnership

..... es as specified in the Limited Liability Partnership Rules, 2009 ; (e) Form or e-form means a form set forth in the Annexure to these rules; (f) majority stake means;- (i) holding more than one-half of the equity share capital in the body corporate; or (ii) holding more than one-half of the contribution in a partnership entity; or (iii) holding more than one-half of the voting rights in the body corporate; or (iv) having the right to receive or participate in more than one-half of the distributable dividend or distributable profits or any other distribution by the body corporate including a partnership entity as the case may be; (g) notification means the notification number G.S.R. 110 (E), dated the 11th February, 202 2; (h) partnership entity means a partnership firm registered under the Indian Partnership Act, 1932 (9 of 1932) or a limited liability partnership registered under the Act; (i) reporting limited liability partnership means a limited liability partnership required to comply with the requirements of section 90 of the Companies Act, 2013 as modified by the notification; (j) section means a section of Act and includes a section of the Companies Act, 2013 , as modified b .....

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Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023. - F. No. 17/30/2018-CL-V - G.S.R. 832 (E) - Limited Liability Partnership

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..... ds majority stake in that partner; or (b) holds majority stake in the ultimate holding company (whether incorporated or registered in India or abroad) of that partner; (ii) where the partner of the reporting limited liability partnership is a Hindu undivided family (through karta), and the individual is the karta of the Hindu undivided family; (iii) where the partner of the reporting limited liability partnership is a partnership entity (through itself or a partner), and the individual, (a) is a partner; or (b) holds majority stake in the body corporate which is a partner of the partnership entity; or (c) holds majority stake in the ultimate holding company of the body corporate which is a partner of the partnership entity. (iv) where the partner of the reporting limited liability partnership is a trust (through trustee), and the individual,- (a) is a trustee in case of a discretionary trust or a charitable trust; (b) is a beneficiary in case of a specific trust; (c) is the author or settlor in case of a revocable trust. (v) where the partner of the reporting limited liability partnership is, (a) a pooled investment vehicle; or (b) an entity controlled by the pooled investment vehi .....

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Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023. - F. No. 17/30/2018-CL-V - G.S.R. 832 (E) - Limited Liability Partnership

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..... ability partnership shall in all cases where its partner (other than an individual), holds not less than ten per cent. of its- (a) contribution; or (b) voting rights; or (c) right to receive or participate in the distributable profits or any other distribution payable in a financial Year,- give notice to such partner in Form No. LLP BEN-4, seeking information in accordance with sub-section (5) of section 90 of the Companies Act, 2013 as applied to the limited liability partnership as per the notification. 5. Declaration of significant beneficial ownership.- (1) On the commencement of these rules, every individual who is a significant beneficial owner in a reporting limited liability partnership, shall file a declaration in Form No. LLP BEN-1 to the reporting limited liability partnership within ninety days from such commencement. (2) Every individual, who subsequently becomes a significant beneficial owner, or where his significant beneficial ownership undergoes any change shall file a declaration in Form No. LLP BEN-1 to the reporting limited liability partnership, within thirty days of acquiring such significant beneficial ownership or any change therein. (3) Where an individual .....

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Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023. - F. No. 17/30/2018-CL-V - G.S.R. 832 (E) - Limited Liability Partnership

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..... ; (d) any other restriction on all or any of the rights attached with the contribution in question. 10. Non-applicability.- These rules shall not apply to the extent the contribution of the reporting limited liability partnership is held by.- (a) the Central Government, State Government or any local authority; (b) (i) a reporting limited liability partnership, or (ii) a body corporate, or (iii) an entity, controlled by the Central Government or by one or more State Government, or partly by the Central Government and partly by one or more State Government; (c) an investment vehicles registered with, and regulated by the Securities and Exchange Board of India, such as mutual funds, alternative investment funds (AIF), Real Estate Investment Trusts (REITs), Infrastructure Investment Trust (lnVITs). (d) an investment vehicles regulated by the Reserve Bank of India, or the Insurance Regulatory and Development Authority of India, or the Pension Fund Regulatory and Development Authority. [F. No.17/30/2018-CL-V] MANOJ PANDEY, Jt. Secy. Annexure [See rule 3(b)] Form No. LLP BEN-1 Declaration by the beneficial owner who holds or acquires significant beneficial ownership in Contribution [ Purs .....

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Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023. - F. No. 17/30/2018-CL-V - G.S.R. 832 (E) - Limited Liability Partnership

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..... eporting LLP (mention applicable/Not Applicable) Individual in case of company or any other body corporate Designated Partner or Partner in case of LLP or Partnership firm Karta in case of HUF Trustee in case of a discretionary trust or charitable trust Beneficiary in case of as specific trust Author or settlor in case of a revocable trust General Partner, Investment Manager or CEO in case of pooled investment vehicle or entity controlled by pooled investment vehicle g. In case the partner is a partnership firm or LLP, specify whether significant beneficial owner: (Yes/No) is a designated partner/ partner holds majority stake in the bod corporate partner holds majority stake in the ultimate holding company of the body corporate partner h. In case the partner is a company or any other body corporate, specify whether significant beneficial owner holds: (Yes/No) majorit .....

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Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023. - F. No. 17/30/2018-CL-V - G.S.R. 832 (E) - Limited Liability Partnership

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..... 023] [ Insert LLP Name ] (the LLP ) Insert Date [By post/email] To: Name and address of SBO/any other person Date: Subject: Notice under sub-section (5) of Section 90 of the Companies Act, 2013 and rules made under the Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023 The Limited Liability Partnership has reasonable cause to believe that: __You are a significant beneficial owner of the Limited Liability Partnership; __ You have knowledge of the identity of significant beneficial owner/another person of . .likely to have such knowledge; __being a partner hold not less than 10% of the contribution / voting rights/ rights on distributable profits or any other distribution in the company __ You have been a significant beneficial owner of the Limited Liability Partnership during the three years immediately preceding the date of this notice, and in respect of the above significant beneficial ownership, the declaration for intimation as prescribed under Section 90 of the Act Companies Act, 2013 has not been complied with the Companies Act, 2013 and rules made under the Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023. You are accordingly ad .....

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Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023. - F. No. 17/30/2018-CL-V - G.S.R. 832 (E) - Limited Liability Partnership

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