Summary of LLP Second Amendment Rules, 2018

Summary of LLP Second Amendment Rules, 2018

The LLP Second Amendment Rules, 2018 has introduced by the government and we have created a summary to clarify the amendments to understand. Following are the Summary of LLP Second Amendment Rules, 2018:

• to be effective from October 02, 2018
• LLP Form 1 which was earlier used for reservation of Name to be replaced with RUN-LLP web-form for the purpose of reserving the 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.
• 2 names can be applied for in Form LLP-RUN.
• If the person does not have DIN/DPIN then the same can be applied through Form FiLLiP.
• Form FiLLiP can also be used as the 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 resubmissions to be allowed in Form FiLLiP.
• Time for resubmission- 15 days from intimation each time subject to a maximum of 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 the firm to LLP) shall be also taken care by CRC, Manesar.
• Name of LLP need not necessarily to be indicative of its resources and abbreviation now allowed. (Clause (viii) and (xiv) of Rule 18 omitted)
• The difference from Company Incorporation
  PAN-TAN application not merged and hence to be separately applied for.

CA Vijay Kumar Gupta
9871174091