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LLP- Designated Partner
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)
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.
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