Limited Liability Partnership amendments impose automatic name-change for noncompliant LLPs and establish adjudication and appeal procedures. A new rule 19A provides automatic allotment of a new LLP name beginning with 'ORDNC' (order of Regional Director not complied) including year, serial number and LLPIN where an LLP fails to comply with a Regional Director's direction within three months, with specified exception for pending e forms; the renamed LLP must state 'Order of Regional Director Not Complied (under section 17 of the LLP Act, 2008)' on invoices and correspondence and comply with section 21 unless it subsequently changes name under section 19. The rules also create an adjudication regime (rules 37A-37D) setting appointment, notice, electronic reply, hearing, powers, timelines, penalty payment and appeal procedures to the Regional Director.
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Limited Liability Partnership amendments impose automatic name-change for noncompliant LLPs and establish adjudication and appeal procedures.
A new rule 19A provides automatic allotment of a new LLP name beginning with "ORDNC" (order of Regional Director not complied) including year, serial number and LLPIN where an LLP fails to comply with a Regional Director's direction within three months, with specified exception for pending e forms; the renamed LLP must state "Order of Regional Director Not Complied (under section 17 of the LLP Act, 2008)" on invoices and correspondence and comply with section 21 unless it subsequently changes name under section 19. The rules also create an adjudication regime (rules 37A-37D) setting appointment, notice, electronic reply, hearing, powers, timelines, penalty payment and appeal procedures to the Regional Director.
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