The Limited Liability Partnership (Adaptation) Act, 2021

AZAD GOVERNMENT OF THE STATE OF JAMMU AND KASHMIR Law, Justice, Parliamentary Affairs and Human Rights Department ******** “Muzaffa rabad”

Dated: 25.06.2021

No. LD/Legis-Act/342-55/2021. The following Act, passed by the Azad

Jammu and Kashmir Legislative Assembly on 27th day of May, 2021 and received the assent of the President on the 15th day of June, 2021, is hereby published for general information.

[Act XVI of 2021] to adapt and enforce the Limited Liability Partnership Act, 2017 in

Azad Jammu and Kashmir

Whereas it is expedient to adapt and enforce the Limited Liability

Partnership Act, 2017 (Act XV of 2017) of Pakistan, in Azad Jammu and

Kashmir in the manner hereinafter appearing;

It is hereby enacted as follows:-

1. Short title, extent and commencement.
(1) This Act may be called the Limited Liability Partnership (Adaptation)Act, 2021.

(2) It shall extend to the whole of Azad Jammu and Kashmir.

(3) It shall come into force at once.

2. Adaptation of the Limited Liability Partnership Act, 2017.
(1) The

Limited Liability Partnership Act, 2017 (Act XV of 2017) of Pakistan, hereinafter referred to as the said Act, is hereby adapted in Azad

Jammu and Kashmir and shall, as far as practicable, be enforced in

Azad Jammu and Kashmir along with all amendments made in the said Act in Pakistan, subject to the following modifications:-

(i) That the expression “Government”, “Federal Government”,

“Provincial Government” or any other expression, wherever, worded, referring to any Executive Government, shall as far as practicable, be construed to refer to “the Azad Government of the State of Jammu and Kashmir” and reference to Pakistan or any part of Pakistan, shall be construed to refer to “the Azad

Jammu and Kashmir;”

(ii) The term “Appellate Bench” means an Appellate Bench of the

Commission constituted under Companies Act, 2017, as adapted and in force in Azad Jammu and Kashmir;

(iii) “The Legal Practitioners and Bar Councils Act, 1973 (XXXV of

1973)”, wherever referred shall be construed as “the AJ&K Legal

Practitioners and Bar Council Act, 1995 (Act XXX of 1995)”;

(iv) The term “Charted Accountant” means a person who is a member of the Institute of Charted Accountant of Pakistan;

(v) The term “Cost and Management Accountant” means a person who is an associate or fellow member of the Institute of Charted

Accountant of Pakistan;

(vi) The term “Court” means the bench of Azad Jammu and

Kashmir High Court constituted for the purposes of this Act;

(vii) The words and expression used in the said Act, but not defined shall have the same meaning, as in the Companies Act, 2017, as adapted and in force in Azad Jammu and Kashmir;

(viii) The term “Commission” means the Commission, constituted under the Companies Act, 2017, as adapted and in force in

Azad Jammu and Kashmir; and

(ix) The term “the Companies Act, 1984” wherever occurring in the said Act, shall be construed as the Companies Act, 2017, as adapted and in force in Azad Jammu and Kashmir.

3. Removal of difficulties.
If any difficulty or question arises in giving effect to the provisions of this Act or in regard to construction to be placed on adaptation, the Government may from time to time, make such provisions or give such directions as appear to it to be necessary for the purpose of removal of such difficulty.

4. Repeal.
The Limited Liability Partnership (Adaptation) Ordinance,

2021 (Ordinance V of 2021) is hereby repealed.

-sd- (Gulfraz Ahmed Khan) Section Officer (Legislation)