advocatesadvise.com - LLP RULES 2009.<br /> CHAPTER V AND VI by Vijay Premchandani

CHAPTER V
Partners and their relations
21 (1) For the purposes of sub-section (2) of section 23, every limited
liability partnership shall file information with regard to the
limited liability partnership agreement in Form 3 with the
Registrar within thirty days of the date of incorporation alongwith
the fee as provided in Annexure ‘A’:
Provided that any change made in the limited liability
partnership agreement shall be filed in Form 3 within thirty days
of such change alongwith the fee as provided in Annexure ‘A’.
(2) For the purposes of sub-section (3) of section 23, every limited
liability partnership shall file information with regard to the
limited liability partnership agreement referred to in such subsection,
in Form 3 with the Registrar within thirty days of the
ratification by all the partners alongwith the fee as provided in
Annexure ‘A’.

22 (1) For the purposes of sub-section (1) of section 25, every partner
shall intimate change in his name or address to the limited
liability partnership in Form 6.
(2) For the purposes of sub-section (2) of section 25, where a person
becomes or ceases to be a partner or where there is any change in
the name or address of a partner, the limited liability partnership
shall file with the Registrar, a notice in Form 4.
(3) For the purposes of sub-section (3) of section 25, in respect of
notice of a person becoming a partner, the Form 4 shall include a
statement signed by the incoming partner that he consents to
become a partner.
(4) The form shall be accompanied by a certificate from a Chartered
Accountant in practice or Cost Accountant in practice or a
Company Secretary in practice that he has verified the particulars
from the books and records of the limited liability partnership and
found them to be true and correct.
(5) The fees to be paid to the registrar in pursuance of sub-section (3)
of section 25 shall be as mentioned in Annexure ‘A’.
CHAPTER VI
Form of Contribution
23(1) The contribution of each partner shall be accounted for and
disclosed in the Accounts of the LLP along with nature of
contribution and amount.
(2) The contribution of a partner consisting of tangible, movable or
immovable or intangible property or other benefits brought or
contribution by way of an agreement or contract for services shall
be valued by a practicing Chartered Accountant or by a practicing
Cost Accountant or by approved valuer from the panel
maintained by the Central Government.