(1) The Central Government may, by notification* in the Official Gazette, direct that any of the provisions of the Companies Act, 1956 (1 of 1956) specified in the notification--

(a) shall apply to any limited liability partnership; or

(b) shall apply to any limited liability partnership with such exception, modification and adaptation, as may be specified, in the notification.

(2) A copy of every notification proposed to be issued under sub-section (1) shall be laid in draft before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in disapproving the issue of the notification or both Houses agree in making any modification in the notification, the notification shall not be issued or, as the case may be, shall be issued only in such modified form as may be agreed upon by both the Houses.

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Footnote :

* Vide Notification No. G.S.R. 59(E), dated 30th January, 2020, Central Government hereby directs that the provisions of section 460 of the Company Act, 2013 (18 of 2013), shall apply to a limited partnership from 30th January, 2020.