LLP- Designated Partner

LLP 1948 views 1 replies

vivek

751 Points Joined May 2009

Dear All, Can a CS inwhole time employment become designated partner of any LLP? According to me, one can be because the restriction posed by regulation 168 of CS Regulaton is restricting the Practicing members only. Please advise. Regards,

Replies (1)

Neha Gupta

PCS

377 Points Joined July 2010

Yes Sir,

Regulation 168 restrict only Practicing members to act as “Designated partner” in LLP or to act as “Executive Director” in a company.

It means a PCS can only be passive or non executive partner or director respectively.

And law is silent further…… but in my opinion a C.S. in full time employment can only act as passive or non executive, partner or director respectively.