Reviewed and Validated by: Shubham, Associate
Introduction
- Section 56 to 71 of the Partnership Act deals with the provisions for the registration of a Partnership firm
- The Act does not make it mandatory to Register ones Firm.
- The act does not impose any penalty on non-registration, however there are certain disabilities for non-registered firms.
S.57 – Appointment of Registrars
- The State Government may appoint Registrar of firm for the purposes of this Act, and may define the areas within which they shall exercise their powers and perform their duties
- Every Registrar shall be deemed to be a public servant within the meaning of section 21 of the Indian Penal Code.
Read another article: Consideration and Exclusive Void Contracts
Section 58 – APPLICATION FOR REGISTRATION.
Subject to the provisions of sub-section of sub-section (1A), the registration of a firm effected by sending by post or delivering to the Registrar of the area in which any place of business of the firm is situated or proposed to be situated, a statement in the prescribed form and accompanied by the prescribed fee and a true copy of the deed of partnership stating :
- the firm-name,
- the nature of business of the firm;
- the place or principal place of business of the firm,
- the names of any other places where the firm carries on business,
- the date when each partner joined the firm,
- the names in full and permanent addresses of the partners, and
- the duration of the firm.
- It is not necessary that it should be registered at the time of its formation.
- The Act does not lay down any time limit within which the firm should be registered.
- If the firm remains unregistered, the firm and the partners would suffer inabilities mentioned under S.69
- If the firm is registered, & some partner have not been registered, -they will be subject to disabilities.
S.59 -Registration
When the Registrar is satisfied that the provision of section 58 have been duly complied with he shall record an entry of the statement in a register called the Register of firms, and shall file the statement.
We shall continue the remaining sections that deals with the provisions for the registration of a Partnership firm in our next article.
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