LLP (Second) Amendment Rules, 2018

LLP Second Amendment

Summary of LLP (Second) Amendment Rules, 2018:

LLP (Second) Amendment Rules, 2018 shall come into effect from 02.10.2018.

LLP related Incorporation forms are likely to be undergo process reengineering shortly.

Now, LLP can be incorporated with up to 2 individuals as Partners who do not have DIN on the similar lines as SPICE form for Incorporation.

LLP Form 1 which was earlier used for reservation of name to be replaced with RUN-LLP web-form for the purpose of reserving name.

LLP Form 2 which was earlier used for registration/incorporation of LLP shall be replaced by Form FiLLiP (Form for incorporation of LLP) for Incorporating LLP.

Reservation of Name for LLP can also be done through Form FiLLiP.

Name Reservation and Incorporation to be handled by CRC, Manesar thus making Incorporation of LLP also centralized process henceforth.

Two names can be applied for in Form LLP-RUN.

If a person doesn’t have DIN/DPIN, then the same can be applied through Form FiLLiP.

Form FiLLiP can also be used as Single Form for name reservation, DIN Application and LLP Incorporation.

One Resubmission – to be allowed in Form LLP-RUN with 15 days’ time from Intimation.

Two Resubmission – to be allowed in Form FiLLiP.

Time for Resubmission – 15 Days from Intimation each time subject to maximum 30 Days Resubmission period.

Certificate of Incorporation of LLP to be given by CRC in Form 16.

Form 5(Notice for Change of Name of LLP), Form 18 (Application for conversion of Pvt/Unlisted Public Company to LLP) and Form 17 (Application for conversion of Firms to LLP) shall also be taken care by CRC (Non Straight through Processing (STP) mode)

Name of LLP need not necessarily to be indicative of its resources and abbreviation now allowed. (Clause (viii) and (xiv) of Rule 18 omitted)

All LLP Form 1 and LLP Form 2 (along with Form 17/18/Addendum) which are pending processing from the date of notification of revised forms shall be marked under Resubmission.

All forms which have to be resubmitted must be submitted again in the new web service/new forms only.

All names which have been approved and against which Incorporation form is not filed till the date of notification of revised forms, shall be allowed to be used to file form FiLLiP for incorporation.

All names which have been approved and against which Change of name Form 5 is not filed till the date of notification of revised forms, shall be allowed to be used to file in revised Form 5.

Difference from Company Incorporation –

PAN-TAN Application not merged and hence to be separately applied for.

Click here for Chart of Process re-engineering of LLP Incorporation related forms

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