It is said that the Limited Liability Partnership (LLP) Agreement is the charter of the LLP. The LLP agreement defines the scope and magnitude of the LLP's actions as well as the rights, duties, obligations of the designated partners in the firm. Modifying or Altering the LLP agreement is simple. Only pass a required resolution approving the alteration in the LLP Agreement. The next is to file Form 3 with the Registrar of Companies within 30 days of such amendment in the agreement taken place.
The form to be filed must be certified by the authorized signatory.
|Days||Work to be done|
|3 WORKING DAYS||The partners must meet to pass a resolution for the required changes|
|4 WORKING DAYS||Within 30 days of the passing of the resolution, Form-3 needs to be filed with the Registrar with requisite fees.|
The Registrar will take on record, necessary changes made in the LLP Agreement which is approved by the same authority.