Template Description

This partner’s resolution template authorizes designated partners for KYC (Know Your Customer) and CKYC (Central KYC) activities for a Limited Liability Partnership (LLP) under the Limited Liability Partnership Act, 2008. It is 2-page MS Word document. This Resolution is mandatory for LLPs that authorize designated partner for KYC and CKYC as per Limited Liability Partnership Act, 2008. The intended audience includes LLPs, professionals, and relevant stakeholders.

Understanding the Partner Resolution for KYC and CKYC Authorization

Terminologies:

• Designated Partner: A partner in an LLP who is authorized to act on behalf of the LLP for specific legal or regulatory purposes.
• KYC (Know Your Customer): The process of verifying the identity of clients to prevent fraud and ensure compliance with legal requirements.
• CKYC (Central KYC): A central repository for KYC information that aims to streamline and simplify the KYC process across various institutions.

Key Components of the Resolution:

Title and Introduction:

1. Title: "Resolution to Authorize Designated Partners for KYC and CKYC"
2. Introduction: Specifies the name of the LLP, its registration number (LLPIN), registered office address, and the date and time of the meeting where the resolution was passed.

Resolution Details:

1. Resolution Number: An identifier for the resolution being passed.
2. Authorization: Clearly states that the designated partners named in the resolution are authorized to sign, execute, and submit all necessary applications, agreements, and documents related to KYC and CKYC processes.
3. Specimen Signatures: Provides a section for recording the specimen signatures of the authorized partners to validate their authority.

Execution:

1. Signatories: Space for the signatures of the designated partners who are being authorized, along with their names and designations.
2. Specimen Signatures Table: A table to record the specimen signatures of the authorized partners, which will be used for verification purposes.

Certification:

1. Certified True Copy: A certification that the document is a true and accurate record of the resolution passed by the LLP.
2. Authorized Signature: The signature of a designated partner who certifies the document.

Disclaimer:

1. Legal Disclaimer: States that the template and information are for general informational purposes only and do not constitute legal advice. Users are advised to consult a qualified attorney for specific legal advice and use the content at their own risk.

Conclusion

This resolution template is crucial for LLPs looking to streamline their KYC and CKYC processes by officially designating partners responsible for these tasks. By authorizing specific individuals, LLPs ensure compliance with regulatory requirements and facilitate smooth handling of customer verification and documentation processes. The template provides a straightforward method to document these authorizations, helping to maintain regulatory compliance and enhance organizational efficiency.