Change in LLP Agreement

Altering the LLP Agreement is an easy and quick process. For altering the LLP Agreement, you need to pass an appropriate board resolution and file form 3 with the Registrar within 30 days.

What is an LLP Agreement?

The Limited Liability Partnership (LLP) Agreement is the charter of a Limited Liability Partnership company, similar to the Memorandum of Association and Articles of Association for a private limited company.

It defines the scope and extent of the LLP's operations as well as the rights, duties, obligations of the partners. Altering the agreement is straightforward.

All you need to do is pass a resolution approving the revision in the LLP agreement. The second step is to file Form 3 with the Registrar within 30 days of the amendment in the agreement.

What are the documents required to change an LLP agreement? (Checklist)

Original LLP Agreement

Modified LLP agreement

Supplementary Deed

Resolution regarding the changes to be made, which is passed in a meeting by the LLP Partners

Any supplementary forms or documents required as proof

Consents of each of the partners

An affidavit or other proof of a change in name

Evidence of cessation

If any of the partners is a company, the copy of the resolution in this regard

What is the process of changing an LLP agreement?

Step 1

The partners must meet to pass a resolution for the required changes in the draft LLP agreement. This may be to change capital contribution, for example.