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Section 3 - Amendment of section 2 - The Limited Liability Partnership (Amendment) Act, 2021Extract Amendment of section 2 3 . In section 2 of the principal Act, in sub-section (1),- (a) in clause (c), for the words, brackets, figures and letters sub-section (1) of section 10FR , the word and figures section 410 shall be substituted; (b) in clause (d), for the word and figure section 3 , occurring at both the places, the words, brackets and figures clause (20) of section 2 shall be substituted; (c) in clause (e), for the words and occupation , the words and occupation except any activity which the Central Government may, by notification, exclude shall be substituted; (d) after clause (r) , the following clause shall be inserted, namely:- (ra) Regional Director means a person appointed as such by the Central Government for the purposes of this Act or the Companies Act, 2013 (18 of 2013), as the case may be; ; (e) for clause (s), the following clause shall be substituted, namely:- (s) Registrar means a person appointed by the Central Government as Registrar, an Additional Registrar, a Joint Registrar, a Deputy Registrar or an Assistant Registrar, for the purposes of this Act or the Companies Act, 2013 (18 of 2013), as the case may be; ; (f) after clause (t), the following clause shall be inserted, namely:- (ta) small limited liability partnership means a limited liability partnership- (i) the contribution of which, does not exceed twenty-five lakh rupees or such higher amount, not exceeding five crore rupees, as may be prescribed; and (ii) the turnover of which, as per the Statement of Accounts and Solvency for the immediately preceding financial year, does not exceed forty lakh rupees or such higher amount, not exceeding fifty crore rupees, as may be prescribed; or (iii) which meets such other requirements as may be prescribed, and fulfils such terms and conditions as may be prescribed; ; (g) in clause (u), for the words, brackets, figures and letters sub-section (1) of section 10FB , the word and figures section 408 shall be substituted.
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