Significant beneficial ownership defined: criteria for individual entitlement and indirect control in reporting LLPs clarified. These Rules define a significant beneficial owner of a reporting LLP as an individual who, alone or together or through persons or trusts, holds specified rights or entitlements by direct or indirect means - including contribution, voting rights, distributable profits participation, or the exercise of significant influence - with detailed explanations on when holdings are direct or indirect, illustrations for corporate, partnership, trust and pooled vehicle structures, and deeming provisions for persons acting together; undefined terms follow the Limited Liability Partnership Act, 2008.
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.
Significant beneficial ownership defined: criteria for individual entitlement and indirect control in reporting LLPs clarified.
These Rules define a significant beneficial owner of a reporting LLP as an individual who, alone or together or through persons or trusts, holds specified rights or entitlements by direct or indirect means - including contribution, voting rights, distributable profits participation, or the exercise of significant influence - with detailed explanations on when holdings are direct or indirect, illustrations for corporate, partnership, trust and pooled vehicle structures, and deeming provisions for persons acting together; undefined terms follow the Limited Liability Partnership Act, 2008.
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