Template Description

This consent to act as Designated Partner template formalizes the consent of an individual to act as a designated partner of the LLP as per the requirements of the Companies Act. It is a 2-page MS Word document which is required during the incorporation of a Limited Liability Partnership (LLP). The intended audience includes prospective designated partners, LLP founders, and legal professionals involved in LLP registration.

Understanding the Consent to act as Designated Partner

Terminologies:

• ‘Consent to Act as Designated Partner’ is a formal declaration by an individual confirming their willingness to serve as a designated partner in an LLP, in compliance with Section 7(3) of the Companies Act.
• ‘Designated Partner Identification Number (DPIN)’ is a unique identification number assigned to designated partners by the Ministry of Corporate Affairs (MCA) in India.
• ‘Limited Liability Partnership (LLP)’ is a hybrid business structure that combines the features of a partnership and a company, providing limited liability to its partners.

Procedure for Providing Consent:

• Draft the Consent Document:
• Address the document to the LLP under incorporation, including the LLP’s name and registered address.

• Provide Personal and Professional Details:
• Enter the Designated Partner Identification Number (DPIN) and personal details, including name, father’s name, present residential address, and email ID.
• Specify any current affiliations with other partnerships, LLPs, companies, or corporate bodies.

• Declare Eligibility:
• State that the individual meets the eligibility criteria to act as a designated partner and has not been disqualified from serving in this capacity.

• Signature and Submission:
• Include a signature line for the designated partner to sign and date the document.
• Include the LLP’s registered address and PAN for completeness.

Key Considerations:

• Ensure that all fields are completed accurately to avoid delays in the incorporation process.
• The designated partner must have a valid DPIN and should not be disqualified under the Companies Act.
• The document should be signed and dated in accordance with legal requirements.

Conclusion

The Consent to act as Designated Partner template is a crucial document for the incorporation of an LLP, confirming the individual’s agreement to serve as a designated partner. This formal consent helps ensure compliance with legal requirements and facilitates a smooth registration process. Accurate and complete submission of this consent is essential for the proper formation and functioning of the LLP.