Limited Liability Partnership

How to register a Limited Liability Partnership with the ICAO

In June 1998 the Legislature adopted Bill 6, the Partnerships Statute Law Amendment Act allowing for Ontario CAs to practice as a limited liability partnership (LLP). The LLP legislation provides that a partner is not personally liable for any debts, obligations or liabilities of the LLP that arise from any negligent act by another partner or by any person under that partner's direct supervision and control. The law does not reduce or limit the liability of the Firm. All of the Firm's assets and insurance protection remain at risk. In addition, all partners of an LLP remain personally liable for their own actions and for the actions of those they directly supervise and control.

To register a Limited Liability Partnership, the firm must:

Review the Limited Liability Partnership Regulation.
Contact the Ministry of Government Services, Companies and Personal Property Security Branch at 416-314-8880 to obtain registration forms. Complete form 1 to de-register the existing name and a form 6 to register the new name of the firm. The name must be registered in accordance with the legislation and the provisions of the Rules of Professional Conduct 401 concerning the use of firm names. The firm name must include one of the following:
- Limited Liability Partnership
- LLP
- L.L.P.
- And/or the French equivalent
Register the name change with the ICAO by forwarding a copy of the Ministry's confirmation (the completed form 6, as returned to the firm by the Ministry), containing the new BIN (Business Identification Number) number, the effective date and expiry date.
Notify clients in writing of the LLP status. View a sample letter.

Once registered, the name registration is effective with the Ministry for 5 years, until which time the firm must re-register.

	The Institute of Chartered Accountants of Ontario

Limited Liability Partnership How to register a Limited Liability Partnership with the ICAO In June 1998 the Legislature adopted Bill 6, the Partnerships Statute Law Amendment Act allowing for Ontario CAs to practice as a limited liability partnership (LLP). The LLP legislation provides that a partner is not personally liable for any debts, obligations or liabilities of the LLP that arise from any negligent act by another partner or by any person under that partner's direct supervision and control. The law does not reduce or limit the liability of the Firm. All of the Firm's assets and insurance protection remain at risk. In addition, all partners of an LLP remain personally liable for their own actions and for the actions of those they directly supervise and control. To register a Limited Liability Partnership, the firm must: Review the Limited Liability Partnership Regulation. Contact the Ministry of Government Services, Companies and Personal Property Security Branch at 416-314-8880 to obtain registration forms. Complete form 1 to de-register the existing name and a form 6 to register the new name of the firm. The name must be registered in accordance with the legislation and the provisions of the Rules of Professional Conduct 401 concerning the use of firm names. The firm name must include one of the following: Limited Liability Partnership LLP L.L.P. And/or the French equivalent Register the name change with the ICAO by forwarding a copy of the Ministry's confirmation (the completed form 6, as returned to the firm by the Ministry), containing the new BIN (Business Identification Number) number, the effective date and expiry date. Notify clients in writing of the LLP status. View a sample letter. Once registered, the name registration is effective with the Ministry for 5 years, until which time the firm must re-register.
Printed on Wed, May 16, 2012 - 3:12:43 EDT http://www.icao.on.ca/CAfirms/Registrations/LimitedLiabilityPartnership/1008page1291.aspx © 2012 Institute of Chartered Accountants of Ontario