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Similar to the Memorandum of Association and Articles of Association for a private limited business, the Limited Liability Partnership (LLP) Agreement serves as the charter for a limited liability partnership company. Along with outlining the partners' rights, responsibilities, and obligations, it also describes the nature and extent of the LLP's operations. Modifying the agreement is simple. Simply adopt a resolution approving the LLP agreement's modification will do. Within 30 days of the agreement's modification, the second step is to submit Form 3 to the Registrar.
The following papers must be submitted to modify an LLP agreement.
An LLP Agreement is a document that outlines the rights, responsibilities, and duties of partners in a Limited Liability Partnership.
Changes may be necessary due to modifications in business structure, partner responsibilities, or compliance with legal requirements.
To change your LLP Agreement, you need to draft a revised agreement and file the necessary forms with the Registrar of Companies.
You will need the original LLP Agreement, the proposed changes, partner consents, and any relevant supporting documents.
The amendment process typically takes about 10-15 business days, depending on the Registrar's processing time.