Amend – LLP Agreement

Change LLP. With Changing Conditions.

     

    An LLP agreement can be changed to fit the changing situations and events. Making amendments in an LLP agreement is very simple. Take the help of experts like us to amend your LLP agreement in accordance with the prescription of the Act.

    • Pass a resolution to revise the LLP agreement.
    • File Form 3 with the Registrar within 30 days of passing the resolution.

    Details Required in Form 3

    01

    The date of amendment of the agreement

    02
    Reason of amendment:

    • Change in business activity
    • Change in a partner(s)
    • Change in the partner’s contribution and percentage of profit sharing
    • Change in any other relevant details like
    03

    Rights and duties of LLP partners

    04

    Restrictions in the authority of LLP partners

    05
    Management and administration of the LLP

    • Acts permitted with the consent of all the partners or consent of a specific number of partners only
    • The protocol of calling, holding and convening meetings
    06

    Details of the indemnity clause

    07
    Details of the agreement related to the Partners:

    • Admission
    • Retirement
    • Cessation
    • Expulsion
    • Resignation
    08
    Resolution of any disputes between

    • The partners
    • The partner and the LLP
    09

    Duration of the operation of LLP

    10
    Voluntary winding up of the LLP
    11
    Any other clauses related to the LLP agreement
    12

    Details of business activities carried out after amendment

    13
    Main division of industrial activity as per NIC-2004
    14
    Details of the partners’ contribution in the LLP and the profit sharing ratio after amendment in the LLP agreement

    • Type of change (deletion or amendment)
    • Details of each partner with the DPIN or PAN, amount of capital contribution and the percentage of profit sharing
    • Total amount of contribution post changes in the agreement

    Details Required in Form 3

    • Initial LLP agreement
    • Changed LLP agreement
    • Any other document(s)

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