Partners must meet to pass a resolution on the necessary changes to the draft LLP agreement. That could be, for example. B, to change the capital contribution. ”Change of LLP`s name and activity – Change in the contribution, law and obligations of the LLP – Change of registered address, profit-sharing rate, contribution -Activation/Stop/Unplug/Unlock/Unlock of LLP” Changes made by the LLP supplemental agreement are effective for the application filed in this regard only after receipt of the authorization. However, after approval of the application, the changes come into effect from the date of execution or the effective date of the amendment or amendments. The Limited Liability Partnership (LLP) is the most important document in the LLP, along with the statutes and statutes of a limited company. It defines the scope and extent of the LLP`s activity, as well as the rights, obligations and obligations of partners. An LLP agreement is of great importance because it contains information on partners, capital contributions, profit-sharing rates, board meetings, dispute resolution minutes, company closures, etc. There may be situations that require the modification of the LLP agreement, such as a change in LLP`s activity, a change in the capital contribution, the addition or removal of a partner, etc. To amend the LLP agreement, you must pass a resolution authorizing the revision of the LLP agreement. The second step is to submit Form 3 to the Clerk within 30 days of the agreement being amended. However, if an amendment to the LLP agreement were to result in a change to the designated partner/partner, Form 4 would have to be presented with Form 3.
The following documents must be attached to Form 3: LLP`s initial agreement – LLP`s complementary/modified agreement – Resolution adopted by the partners – All other documents requested by the MCA. During the post-registration management of LLP with respect to the number of partners, various changes must be made to simplify and standardize trade policy, while commitments are assigned to the indicated partner and few other additional liability or obligation rights are conferred.