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Amend LLP Agreement

LLP can amend LLP agreement accordance to the procedure in the LLP Agreement. Usually partners consent either written or resolution passed at partners meeting is required to make change in the LLP agreement.

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Overview – Amendment of LLP Agreement

LLP can amend LLP agreement accordance to the procedure in the LLP Agreement. Usually partners consent either written or resolution passed at partners meeting is required to make change in the LLP agreement, procedures to amend LLP agreement

 

LLP agreement is the agreement which determine the mutual rights and duties of the partners of an LLP and rights and duties in relation to the LLP. Situation may arise where partners required to amend LLP agreement to reflect present understanding. The following cases, usually LLP Agreement amendment required.

  1. Change in name of the LLP
  2. Change in activities of LLP
  3. Change in contribution 
  4. Change in the LLP agreement to meet the requirements of Income tax Act
  5. Other changes such as voting rights, decision making, etc

Amend LLP Agreement – Requirements


Procedures for Amending LLP Agreement


LLP Agreement

Understating present LLP agreement to adopt procedures to be followed for amending LLP Agreement. Usually partners consent required for effecting change either by written consent or resolution passed in the partners meeting.

Partners Consent

Partners consent in writing or resolution passed at the meeting of partners. Procedures provided in the LLP agreement to be complied

Execution of Supplemental Agreement

After getting partners consent, execute Supplemental Agreement in appropriate stamp paper for filing with registrar of companies

Filing with ROC

After executing the agreement, file a copy in Form 3 with Registrar of Companies

Documents Required


Present LLP Agreement copy is only required for processing LLP Agreement amendment


    LLP Agreement

    Copy of present LLP agreement for identifying the procedures to be adopted for LLP agreement amendment

    Partners Consent

    Partners consent accordance to LLP agreement

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