Template Description

This subscriber’s sheet serves as a formal declaration by partners who subscribe to the formation of an LLP, listing their personal details and their capital contributions. It is a 2-page MS Word document. Which is essential for registering new LLPs under the Limited Liability Partnership Act, 2008. The Intended user include LLPs, company secretaries, and legal professionals.

Understanding a Subscriber’s Sheet

Terminologies:

• Subscriber’s Sheet: A document that contains the names, addresses, and signatures of the individuals subscribing to the memorandum of an LLP, along with details of their capital contributions.
• LLP: A Limited Liability Partnership is a legal entity that offers the benefits of both a partnership and a corporate body, allowing for limited liability protection to the partners.

Key Components of the Subscriber’s Sheet:

• Name and Details of Subscribers:
• List the full name of each individual partner forming the LLP.
• Provide addresses, occupations, and other personal details of each partner.

• Capital Contribution:
• Each subscriber’s capital contribution to the LLP must be recorded.
• Specify the type of contribution, whether it’s in cash, property, or other forms.

• Signature of Subscribers:
• Each partner must sign the subscriber’s sheet to indicate their agreement to be part of the LLP.
• Signatures serve as formal consent to the subscription.

• Witness to Signatures:
• A witness is required to authenticate the signatures of the subscribers.
• Include the witness’s name, address, and signature.

• Date of Subscription:
• The date on which the subscribers sign the document must be clearly indicated.

Procedure for Executing the Subscriber’s Sheet:

• Preparation and Collection of Details:
• Gather personal details and intended capital contributions from all partners forming the LLP.
• Prepare the subscriber’s sheet with accurate information.

• Signing the Subscriber’s Sheet:
• All subscribers must sign the document in the presence of a witness.
• The witness should authenticate the signatures to ensure compliance with legal requirements.

• Filing with the Registrar of LLPs:
• Submit the subscriber’s sheet along with other incorporation documents to the Registrar of LLPs.
• The subscriber’s sheet forms part of the incorporation process for registering a new LLP.

Key Considerations:

• Ensure that the capital contributions are clearly defined and accurately recorded.
• Make sure all subscribers provide correct personal information.
• Witnesses should be credible individuals to avoid disputes over the validity of the document.
• Retain a certified copy of the subscriber’s sheet for internal records and future reference.

Conclusion

The Subscriber’s Sheet is a vital document for the formation of an LLP. It outlines the identities of the partners and their initial contributions, thereby formalizing their commitment to the LLP. This document plays a crucial role in ensuring that the LLP is registered properly under the Limited Liability Partnership Act, 2008, and provides a clear record of the founding partners. Proper execution of this sheet is critical for seamless incorporation and legal compliance