Recently, the Ministry of Corporate Affairs has amended the LLP Rules, 2009 (Rules) wherein declarations are to be provided by the registered partner, beneficial partner and LLP in respect of beneficial interest in any contribution. registered partner person whose name is entered in the register of partners but does not hold beneficial interest fully or partly in contribution of LLP.

beneficial partner person who holds or acquires beneficial interest in contribution of LLP but his name is not entered in register in partners.

The registered and beneficial partner are required to intimate the details of beneficial interest within 30 days from the date of entry in the register of partners. Any change in the beneficial interest is also required to be intimated to the LLP within 30 days of such change.

The LLP is also required to submit the declarations so received from the registered and beneficial partner to the Registrar of Companies (ROC) within 30 days of receipt of the declarations.

Additionally, every LLP is required to name a designated partner responsible for furnishing information with respect to beneficial interest to the ROC or any officer authorized by the Central Government. If no designated partner is named, then each designated partner is to be responsible for furnishing the information related to beneficial interest.