TMI BlogDefinitionsX X X X Extracts X X X X X X X X Extracts X X X X ..... other manner; (d) fees means the fees 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 notificat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny manner other than through direct-holdings alone: Explanation I .- For the purpose of this clause, if an individual does not hold any right or entitlement indirectly under sub-clauses (i), (ii), (iii) or (iv), he shall not be considered to be a significant beneficial owner. Explanation II .- For the purpose of this clause, an individual shall be considered to hold a right or entitlement directly in the reporting limited liability partnership, if he satisfies any of the following criteria, namely:- (i) the contribution in the reporting limited liability partnership representing such right or entitlement are held in the name of the individual; (ii) the individual holds or acquires a beneficial interest in the contribution ofth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... v) 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 vehicle, based in member State of the Financial Action Task Force on Money Laundering and the regulator of the securities market in such member State is a member of the International Organisation of Securities Commissions, and the individual in relation to the pooled i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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