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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Section 79 Amended: New LLP Contribution Rules, Partner Consent, Naming Process, and Penalty Appeals Under LLP Act 2021.</h1> The Limited Liability Partnership (Amendment) Act, 2021 revises section 79 of the principal Act. It introduces new clauses, including requirements for higher contributions, terms for specific LLP classes, and consent procedures for designated partners. It specifies the process for assigning new LLP names, establishes accounting and auditing standards, and outlines registrar duties and service terms. Additionally, it addresses fees for document filings and appeals, appoints adjudicating officers for penalties, and provides for appeals against their decisions. The amendment also includes a provision for any other matters requiring rules or regulations.
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