Limited Liability Partnership (Second Amendment) Rules 2018
The much-awaited Limited Liability Partnership (Second Amendment) Rules 2018 containing the relevant revised rules and incorporation related eform layouts have been notified on 18th September 2018 which would come into effect from 02nd
October 2018. The said amendment rules contain changes as detailed below:
1. Introduction of a Web Service titled ‘RUN-LLP (Reserve Unique Name – Limited Liability Partnership)’ replacing the erstwhile Form 1 (Application for reservation or change of name).
2. Introduction of a new integrated Form christened FiLLiP (Form for incorporation of Limited Liability Partnership) replacing the erstwhile Form 2 (Incorporation document and subscriber’s statement) combining therein 3 services i.e.,
a) Name Reservation.
b) Allotment of Designated Partner Identification Number(DPIN/DIN).
c) Incorporation of the LLP.
3. Change in the Processing of eForms:
The applications which would be submitted using the web-service/eForms viz. RUN-LLP, FiLLiP, Form 17, Form 18 and Form 5 would be processed at a Centralised location by the Registrar, Central Registration Centre(CRC) for and on behalf of the jurisdictional Registrar. The centralized registration process is likely to bring down the processing time to D+1 Day akin to Companies’ Incorporation forms and thus spur the growth of business in our country.
4. RUN-LLP (Reserve Unique Name – Limited Liability Partnership)
(i) RUN-LLP would be a simple and easy to use Web Service for reserving a name for a new LLP or for Change of Name of any existing LLP with only 4 relevant fields. The new web service would replace the existing Form 1 which contains 15 fields (4 pages) for reservation of name/change of name of LLP.
(ii) This is a ‘post-login’ service and existing users would need to login into their account using their credentials. New users are required to create a login account first before using the service.
5. Form for incorporation of Limited Liability Partnership (FiLLiP) (vis-à-vis existing Form
(i) New field ‘whether name is already approved by Registrar of Companies’ is introduced to accommodate names approved through RUN-LLP and reservation of name through FiLLiP.
(ii) New field 2(a) ‘Type of incorporation’ inserted to enables users to prefill/enter the type of incorporation (New incorporation/ Conversion of firm into LLP/Conversion of private company/unlisted public company into LLP).
(iii) New field introduced to enable the user to enter the number of designated partners/partners in a tabular format. Based on the number in the table, relevant section shall be enabled to provide the details.
(iv) Each category of partner/designated partner (except non-individual partner/designated partner is divided into two types, one having DIN/DPIN and another not having DIN/DPIN.
(v) In case of Body Corporate Designated Partners / Body Corporate Partners, count needs to be entered in the column for ‘not having DIN/DPIN’.
(vi) In case of Body Corporate Designated Partner, details of having DIN/DPIN or not having DIN/DPIN shall also be provided for the ‘Nominee of Bodies Corporate Designated Partners’
(vii) In case individual designated partner/nominee of Body Corporate designated partner is not having DIN/DPIN, all the relevant details pertaining to DIN/DPIN allotment shall be entered in the relevant section.
(viii) Maximum of two DINs/DPINs can be allocated through FiLLiP.
(ix)In case FiLLiP is getting filed for name reservation, user need to enter ‘proposed name’ (only one name is allowed) and other relevant details of name reservation.
(x) Relevant attachments pertaining to the name reservation/DIN allotment through FiLLiP got included in the form.
(xi)In case none of the Designated Partners have DIN/DPIN, the form can now be signed by providing PAN details of the Designated Partner.