Change in LLP Agreement
LLP Agreement is basically a Charter of LLP in which nature of business, rights and liabilities of the partners and relation of partners with each other and with the firm is mentioned. Thus, all the business operations of the LLP are governed through such LLP Agreement. After the Registration of LLP, sometimes several changes are required to be made in order to simplify the business operations or policy. Thus, LLP Agreement has to be altered to adopt such new changes. Section 23 of LLP Act, 2008 has prescribed a procedure for change in LLP Agreement. Such changes are essential for benefiting the LLP and the Partners.
Apply Now For AssistanceChange in LLP Agreement @Rs. 2,000/-
EVENT
Change in LLP Agreement
Form No.
Form 3
Time -Limit
within 30 days from the date of such change
Whether to be filed before ROC or Not?
Yes
If LLP and the designated partners fail to file Form 3 then, such LLP and designated partners shall be liable to pay fine which shall not be less than Rs. 2000 and which may extend up to Rs. 25000.
Frequently Asked Questions (FAQs)
Limited Liability Partnership is governed by LLP Act, 2008. LLP Act has prescribed certain compliances which an LLP is required to fulfill otherwise it shall be liable to pay penalty for not observing these compliances.
- Post Incorporation LLP Compliances
- Mandatory Annual LLP Compliances
- Event-Based LLP Compliances
LLP Act has prescribed certain compliances which are to be fulfilled on the happening of certain events. These compliances are called as Event-Based LLP Compliances.
List of Event-Based LLP Compliances
Events |
Form |
Due-Date |
Consent of Designated Partner and Particulars of Partners |
Form 4 |
30 days from the date of such change |
Registration of Charges |
Form 8 |
30 days from the end of 6 months of the financial year |
Change in Registered Office of LLP |
Form 15 |
30 days from the date of such change |
Change in Name |
Form 5 |
30 days from the date of such change |
Change in LLP Agreement |
Form 3 |
30 days from the date of such change |
Change in Designated Partners |
Form 4 |
30 days from the date of such change |