11 Incorporation document

Incorporation document.

(1) For a limited liability partnership to be incorporated,-

a) two or more persons associated for carrying on a lawful business with a view to profit shall subscribe their names to an incorporation document;

b) the incorporation document shall be filed in such manner and with such fees, as may be prescribed with the Registrar of the State in which the registered office of the limited liability partnership is to be situated; and

c) there shall be filed along with the incorporation document, a statement in the prescribed form, made by either an advocate, or a Company Secretary or a Chartered Accountant or a Cost Accountant, who is engaged in the formation of the limited liability partnership and by any one who subscribed his name to the incorporation document, that all the requirements of this Act and the rules made thereunder have been complied with, in respect of incorporation and matters precedent and incidental thereto.

2) The incorporation document shall-

a) be in a form as may be prescribed;

b) state the name of the limited liability partnership;

c) state the proposed business of the limited liability partnership;

d) state the address of the registered office of the limited liability partnership;

e) state the name and address of each of the persons who are to be partners of the limited liability partnership on incorporation;

f) state the name and address of the persons who are to be designated partners of the limited liability partnership on incorporation;

g) contain such other information concerning the proposed limited liability partnership as may be prescribed.

3) If a person makes a statement under clause (c) of sub-section (1) which he-

a) knows to be false; or

b) does not believe to be true, shall be punishable with imprisonment for a term which may extend to two years and with  fine which shall not be less than ten thousand rupees but which may extend to five lakh rupees.