Registration of changes in partners.
25. (1) Every partner shall inform the limited liability partnership of any change in his name or address within a period of fifteen days of such change.
( 2) A limited liability partnership shall-
( a) where a person becomes or ceases to be a partner, file a notice with the Registrar within thirty days from the date he becomes or ceases to be a partner; and
( b) where there is any change in the name or address of a partner, file a notice with the Registrar within thirty days of such change.
( 3) A notice filed with the Registrar under sub-section (2)-
( a) shall be in such form and accompanied by such fees as may be prescribed;
( b) shall be signed by the designated partner of the limited liability partnership and authenticated in a manner as may be prescribed; and
( c) if it relates to an incoming partner, shall contain a statement by such partner that he consents to becoming a partner, signed by him and authenticated in the manner as may be prescribed.
( 4) If the limited liability partnership contravenes the provisions of sub-section (2), the limited liability partnership and every designated partner of the limited liability partnership shall be punishable with fine which shall not be less than two thousand rupees but which may extend to twenty-five thousand rupees.
( 5) If any partner contravenes the provisions of sub-section (1), such partner shall be punishable with fine which shall not be less than two thousand rupees but which may extend to twenty-five thousand rupees.
( 6) Any person who ceases to be a partner of a limited liability partnership may himself file with the Registrar the notice referred to in sub-section (3) if he has reasonable cause to believe that the limited liability partnership may not file the notice with the Registrar and in case of any such notice filed by a partner, the Registrar shall obtain a confirmation to this effect from the limited liability partnership unless the limited liability partnership has also filed such notice: Provided that where no confirmation is given by the limited liability partnership within fifteen days, the registrar shall register the notice made by a person ceasing to be a partner under this section. |