Home / Change in LLP Agreement
What is Change in LLP Agreement ?

The Limited Liability Partnership (LLP) Agreement is the charter of the LLP, 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. It specifies the contribution of each partner, the profit sharing and details of a closure of LLP.

Documents required to Change an LLP Agreement
  • Date of modification in the agreement
  • Reason of change– whether the change is on account of LLP Agreement
  • Details of business activities after change
  • Main division of industrial activity as per NIC-2004 (based on changed business activities)
  • Details of partner’s contribution and profit sharing ratio after change in the LLP agreement
Procedure to Change an LLP Agreement
  • A resolution needs to be passed to revise the LLP agreement.
  • Form 3 is to be filed with the Registrar within 30 days of passing the resolution.
  • File Form 4 for change in partner/ designated partner
  • Business Name- Since the name of a Proprietorship is not registered, a Proprietorship can choose to have any name - as long as it does not infringe on a registered trademark.
    ...No Content