The Limited Liability Partnership (LLP) Agreement is the charter of the LLP, similar to the Memorandum of Association and Articles of Association for a private limited company. It defines the scope and extent of the LLP’s operations as well as the rights, duties, obligations of the partners. Altering the agreement is straightforward. All you need to do is pass a resolution approving the revision in the LLP Agreement. The second step is to file Form 3 with the Registrar within 30 days of the amendment in the agreement.
Procedure for Changing LLP Agreement
3 WORKING DAYS
The partners must meet to pass a resolution for the required changes, whatever they may be. This may be to change capital contribution, for example.
4 WORKING DAYS
Within 30 days of the passing of the resolution, Form-3 needs to be filed with the Registrar.