Continuity conditions
The original firm’s partners must be the LLP’s partners on conversion, and the LLP’s assets must be solely the original firm’s assets immediately beforehand. Each original partner’s contribution must remain unchanged. At least 75% of the original partners’ partnership-interest composition must stay the same for two years. Breach can make BSD and SSD payable with 6% annual interest from 14 days after the instrument.
Application records
Apply through desktop Section 15 Relief and pay adjudication fees regardless of qualification. Prepare LLP registration, ACRA profiles before and after conversion, partnership agreements, valued chargeable-asset lists and a statutory declaration explaining capital, partners and any intended disposal exceeding 25%. Older pre-19 February 2011 conversions also require transfer instruments.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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