Content Under This Article:-
1.What is Limited Liability Partnership(LLP)?
2.How to Change Limited Liability Partnership(LLP) Agreement?.
3.How to Change Limited Liability Partnership(LLP) Name?.
4.How to Limited Liability Partnership(LLP) Address?
As I Previously written an article about What is LLP? and How to Register LLP in india.?. I again defining LLP in simple terms. A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It, therefore, presents elements of partnerships and corporations. In an LLP, one partner is not responsible or liable for another partner’s offense or negligence.
LLP is an option to corporate business form that gives the benefits of limited liability of a company and the versatility of a partnership.
The LLP can continue its survival irrespective of changes in partners. It is capable of entering into contracts and holding property in its own name.
The LLP is a separate legal entity, is liable to the full extent of its assets but the liability of the partners is limited to their agreed contribution in the LLP.
Moreover, no partner is liable on account of the independent or un-authorized activities of other partners, thus, individual partners are guarded against joint liability created by another partner’s wrongful business arrangements or misconduct.
Mutual rights and duties of the partners within an LLP are governed by an agreement between the partners or between the partners and the LLP as the case may be. The LLP, however, is not discharged of the liability for its other obligations as a separate entity.
After defining LLP Next I am explaining How You Can Change LLP’s Agreement,Name and Address.
Recommended Read:-What is OPC? How to Form OPC in india?
How To Change LLP Agreement?
For Changing LLP Agreement You have to file Form 3 (Information with regard to Limited Liability Partnership Agreement and changes, if any, made therein). However,if You are changing LLP agreement Due to change in partners/ designated partner,Then Form 4 has to be filed along with Form 3.
How to Change LLP Name?
There are Various Cases Where Person Just Only Want to change Name of LLP.For Changing The Name of LLP You have to File Form 1 (Application for reservation or change of name) is required to be filled for name approval. After the name Your LLP gets approved,You are required to file Form 5 (Notice for change of name) to intimate the registrar about the name change of LLP.
How To Change LLP Registered Office?
For Changing the registered office of the LLP You have to file in Form 15 ( Notice of change of place of registered office).
For Foreign LLP?
If Your LLP is Foreign LLP and You Want to Change Your Foreign LLP’s Any Information.You have to file Form 28 and Form 29.
Form 28 is required when there is –
⇒Change in the incorporation document or other instrument constituting or defining the constitution of a limited liability partnership incorporated or registered outside India.
⇒Change in the registered or principal office of a limited liability partnership incorporated or registered outside India.
⇒Alteration in the partner or designated partner if any of a limited liability partnership incorporated or registered outside India.
Similarly, Form 29 is required to give notice in case of –
⇒Alteration in the certificate of incorporation or registration of limited liability partnership incorporated or registered outside India.
⇒Modification in the name or address of any of the persons authorized to accept service on behalf of a foreign limited liability partnership in India.
⇒Alteration in the principal place of business of foreign limited liability partnership in India
Cessation to have place of business in India.