Penalty for default in section 13 compliance now applies daily and is capped for limited liability partnerships and their partners. The amendment substitutes subsection (4) of section 13 to make the limited liability partnership and each partner liable to a penalty for each day a default in complying with the section continues, subject to a maximum penalty for the LLP and for each partner.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Penalty for default in section 13 compliance now applies daily and is capped for limited liability partnerships and their partners.
The amendment substitutes subsection (4) of section 13 to make the limited liability partnership and each partner liable to a penalty for each day a default in complying with the section continues, subject to a maximum penalty for the LLP and for each partner.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.