Amendment of Schedule, Rajasthan Act No. 14 of 1999

In the Schedule to the principal Act,-

1. (i) in clause (c) of Article 5, in proviso, appearing under Column No. 2, for the existing expression "three years", the expression "five years" shall be substituted;
2. (ii) in Article 35-B, for the existing clause (2), the following shall be substituted, namely:- “(2) Instrument of conversion of a firm, a private limited company or an unlisted public limited company into limited liability partnership or vice-versa-

1. (a) where on conversion immovable property vests in the resultant entity Two percent on the market value of immovable property.
2. (b) in any other case Five thousand rupees.”; and
   • (iii) in Article 48, for the existing clause (a), the following shall be substituted, namely:-

“(a) in case of ancestral property 1.5 percent of the amount equal to the market value of the share, interest, part or claim renounced.”.