Ministry of Corporate Affairs vide LLP (Second Amendment) Rules, 2018 dated 18.09.2018 brought manifolds changes in the process of incorporating LLP.
1. New form RUN-LLP
Reserve Unique Name-Limited Liability Partnership (RUN-LLP).Form 1 has been replaced with RUN-LLP, where an application for reserving the name of LLP has to be made
2. New form FiLLip
Now for registering LLPs, form FiLLip is to be filed. Form 2 has been replaced by form FiLLip.
3. Name application
For registering LLP, the name can be reserved in advance by using form RUN-LLP or the name can be applied simultaneously with the application for registering LLP (Similar to sPice form applicable for Companies)
4. DPIN application through FiLLip
FiLLip has been introduced with the feature of applying DPIN for designated partners.
5. Maximum DPIN to be applied through FiLLip
Only up to two individuals can make application for DPIN in the Form FiLLip.
6. There have been changes in the following Forms:
Form 5: Notice of Change of Name of LLP
Form 17: Application for conversion of Firm to LLP
Form 18: Application for conversion of Pvt Ltd. Co. or Unlisted Public Ltd. Co. to LLP
7. Central Registration Centre (CRC)
Reserving name of LLP through form RUN-LLP, applications for registering LLP in form FiLLip and application for conversion of the firm/ unlisted company to LLP will be examined by CRC.
8. The certificate of Incorporation of LLP or Conversion of LLP will be issued by CRC in form 16 and 19 respectively.
9. Chances of Resubmission:
One resubmission allowed for RUN-LLP and two chances for resubmission for FiLLip.
10. Rules to come into force 02.10.2018