Designated partner disqualification clarified: insolvency, payment suspension, and specific convictions bar appointment; government may remove some bars. A person is ineligible for appointment as a designated partner if within the preceding five years they were adjudged insolvent or suspended payments to creditors without a composition; if convicted of an offence involving moral turpitude with at least six months' imprisonment; or if convicted under the statutory offence referenced in the Rules. The Central Government may, by notification, remove disqualification arising from insolvency or suspension of payments generally or for specified limited liability partnerships.