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LLP Agreement Amendment

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LLP Agreement is the charter document of an LLP which describes all important matters concerning an LLP including internal administration of LLP, relation between partners of LLP, rights, duties and responsibilities of partners. There may be cases the agreement required changes during the course of business. 

There may be cases which required change in the LLP agreement to meet the business needs, like;

  • Change in the management structure of the LLP
  • Decision making process  
  • Profit ratio or contribution etc

How Companiesinn service helps you for LLP Agreement Amendment 

  1. Free Consultancy regarding amendment
  2. Verify the LLP Agreement to understand how to process amendment.
  3. Draft necessary documents to make changes in LLP Agreement
  4. Filing the changes with Registrar of Companies
  5. Approval

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LLP Agreement Amendment

LLP Agreement is the charter document of an LLP which describes all important matters concerning an LLP including internal administration of LLP, relation between partners of LLP, rights, duties and responsibilities of partners, etc.

The following are the situations where LLP needs to amend the LLP Agreement:

  1. Change of LLP Name
  2. Change in management rights
  3. Change in economic rights
  4. Delegation of management rights of an LLP from partners to a manager
  5. Addition of new activities in the LLP subject to incorporation documents
  6. Tax planning
  7. Fixing remuneration for working partners by LLP agreement

The clauses in LLP agreement can be amended by following procedures in the LLP Agreement and by executing an amendment agreement in accordance to LLP Agreement, LLP Act and Rules. After amendment of LLP agreement, LLP shall file one copy with Registrar of Companies.



How to amend an LLP agreement?

An LLP agreement can be amended by following the procedures in the LLP Agreement and by executing an amendment agreement in accordance to LLP Agreement, LLP Act and Rules.

Who can amend the LLP agreement?

Partners of an LLP can amend the agreement subject to provisions in LLP agreement, LLP Act and Rules.

When is the amendment of LLP agreement effective?

Amendment to the LLP agreement will take effect from the date of executing the amendment agreement.

Is the amended LLP agreement required to be filed with the Registrar?

A copy of the amended agreement has to be filed with the Registrar within 30 days of amendment.

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