Explain the procedure for changing the name of Limited Liability Partnership (LLP) under the Limited Liability Partnership Act, 2008.
CS Executive · Setting up of Business Entities and Closure · PYQS · June 2022
Explain the procedure for changing the name of Limited Liability Partnership (LLP) under the Limited Liability Partnership Act, 2008.
Answer & Explanation:
The procedure for change of name is governed by provisions of Section 19 of the Limited Liability Partnership Act, 2008 (LLP Act). According to Rule 20 of LLP Rules, 2009, the limited liability partnership may change its name by following the procedure as laid down in the limited liability partnership agreement. Where the limited liability partnership agreement does not provide such procedure, consent of all partners shall be required for changing the name of the limited liability partnership. Along with the name change application, the partners need to submit the following documents. Certified copy of consent of all partners involved for the name change; Copy of the existing legal agreement; Trademark copy or copy of the registration certificate. After the suggested name get approved, one has to file Form LLP-5, giving notice of the change in the Name. The form has to be submitted to the Registrar within 30 days. The ROC, after taking into consideration the application, will approve/deny the name change. If the name is approved, the ROC will issue a certificate and the new name will be effective from the date mentioned in the certificate. Once the partners get the new certificate of registration, a supplementary agreement needs to be laid out mentioning the changes in the LLP agreement as a result of the name change.
Topics: Limited Liability Partnership Act, 2008
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