Dewan Negara Passes Limited Liability Partnership (Amendment) Bill 2024
KUALA LUMPUR,, The Limited Liability Partnerships (Amendment) Bill 2024, which aims to help reduce liability for partners in conventional partnerships, was passed by the Dewan Negara today. Deputy Minister of Domestic Trade and Cost of Living Fuziah Salleh said that under the amendments to the Limited Liability Partnerships Act 2013 (Act 743), provisions related to the reporting framework and the disclosure of beneficial ownership information would be included. Fuziah said that the Companies Commission of Malaysia (SSM) has prepared guidelines and frequently asked questions (FAQs) to provide understanding to Limited Liability Partnership (LLP) entities to comply with the new legislation