The Limited Liability Partnership (Amendment) Act, 2020 was enacted to made some amendments in Limited Partnership Act, 2017. The Act aims to ensure compliance with the recommendations on the anti-money laundering cell and countering the financing of terrorism issued by the Financial Action Task Force (FATF). Certain amendments in Section 8 of the Limited Partnership Act, 2017 are made to disclose the particulars of ultimate beneficial owner and a penalty up to 10 million is levied for non-compliance.