1. An individual can be admitted to become a partner to the LLP with the consent of other partners of the LLP and in accordance with the provisions of (section 25) of Limited Liability Partnership Act, 2008.
2.
The rights and obligations of the admitted partner shall be determined vide agreement entered into the LLP and its other partners.
3.
LLP shall be required to (E-Form 4) of LLP Rules 2009, with Ministry of Corporate Affairs on www.llp.gov.in. with the following attachments : · Consent t act as partner· The Form must be duly certified by certifying authorities as specified in the form.
4.
This form shall be filed within 30 days of the admission of the new partner.
5.
The form shall be accompanied by such fees as may be prescribed.
6.
After filing of E-Form 4 the fact of the admission of the new partner in the LLP will take on record by the Registrar.
NOTE
The aforesaid provisions are dealt by section 25 of Limited Liability Partnership Act, 2008. In case of change in the name or address of the partner the same must be intimated by the partner within a period of 15 days to the LLP. In case a partner fails to give such intimation he shall be punishable with fine which shall not be less than Rs. 2,000/- but which may extend to Rs. 25,000/- In case intimation of admission of partner is not given by LLP in such case Limited Liability Partnership and every designated partner of the limited liability partnership shall be punishable with fine which shall not be less than Rs. 2,000/- but which may extend to Rs. 25,000/-
30 March 2013
Procedure for Cessation of Partner 1. A partner can cease to be partner of a limited liability partnership in accordance with an agreement with the other partners and in accordance with the provisions of (section 25) of Limited Liability Partnership Act, 2008.
2.
In case of absence of agreement with the other partners as to cessation of being a partner, a partner may resign by giving a notice in writing of not less than thirty days to the other partners of his intention to resign as partner.
3.
LLP shall be required to (E-Form 4) of LLP Rules 2009, with Ministry of Corporate Affairs on www.llp.gov.in. with the following attachments :
Resignation letter of the partner
The Form must be duly certified by certifying authorities as specified in the form.
4.
This form shall be filed within 30 days of the admission of the new partner.
5.
The form shall be accompanied by such fees as may be prescribed.
6.
Further a person shall cease to be a partner of a limited liability partnership—
a. on his death or dissolution of the limited liability partnership; or b. if he is declared to be of unsound mind by a competent court; or c. if he has applied to be adjudged as an insolvent or declared as an insolvent.
NOTE
The aforesaid provisions are dealt by section 25 of Limited Liability Partnership Act, 2008. Any person who ceases to be a partner of a limited liability partnership may himself file with the Registrar the notice of his cessation if he has reasons to believe that the limited liability partnership may not file the notice with the Registrar and in case of any such notice filed by a partner, the Registrar shall obtain a confirmation to that effect from the limited liability partnership unless such notice is itself filed by the limited liability partnership. Where no confirmation is given by the limited liability partnership with a period of 15 days, the Registrar shall register the notice made by the person ceasing to be a partner.
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