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Chapter -2 The registration of a firm in the concerned Department and issuance of certificate

Chapter -2 The registration of a firm in the concerned Department and issuance of certificate
5. Firm to be registered in the record of the concerned Department :
A firm shall have to be registered in the record of the concerned Department within a period of Six months from the date when the partners enter in to the agreement of partnership pursuant to this Act;
Provided that, any act or business carried on by the partnership or for the partnership which is not registered pursuant to this Section shall not get legal validity pursuant to this Act.
6. Matters to be set out in an application for the registration of a firm and fees for registration : In order to register a firm an application in the format as referred to in Schedule -1(a) shall be submitted before the
concerned Department, stating the details as follows, along with the fees as prescribed in Schedule- 2(a) and a copy of the agreement concluded between partners, if any,
(a) Full Name of the firm
(b) The Principal place of business of the firm,
(c) The objectives of the firm including the short description of the nature of the goods or services, as the case may be, which the firm intends to run the business,
(d) The full name, surname and permanent address of the partners,
(e) The matter of restriction imposed on the power of a partner, if any,
(f) The types of partnership and the capital subscribed by each partner,
(g) The name of a partner or partners, who represent the firm,
(h) The mode to share the profit and loss between /among partners,
(i) The mode to calculate the profit of a firm.
(j) Any other matters prescribed by the concerned Department stating which should be set out in the application.
7 . Name of the Firm : A Firm shall not be given such name which resembles the name of any other firm which is already registered, or the name of any limited company which is already registered under Company
Act.
8 Issuance of a Certificate after registration of a firm : If a firm fulfils the conditions as referred to in Sections 6 and 7, the concerned Department shall register such firm pursuant to this Act and after completing registration the said Department shall issue a certificate (Nissa) of registration in the format as referred to in schedule 3-(a) in the name of partners.
9. No need to register previous firm: It shall not be required to register the firm under this Act which has been already registered pursuant to Private Firm Registration Act, 2014. Provided that, in case any particulars as
referred to in Section 6 was not mentioned in earlier registration, the concerned Department may seek such particulars and the partners shall submit such particulars to the concerned Department.
3 10. Approval required to change the particulars : If it requires to make any change in the particulars of application and in the agreement submitted pursuant to Section 6, an application shall be submitted before the
concerned Department for this purpose and such changes may only be made after the approval of the concerned Department.
4 11 Renewal : An application shall be submitted before the concerned Department in the format as prescribed in Schedule 1(b) along with the  prescribed fee as referred to in Schedule-2(b) for the renewal of a firm
registered under this Act within a period of Thirty Five days of the expiry of fiscal year of the firm. If an application is submitted within such period, the concerned Department shall renew the firm and mention the fact of
renewal in the registration inventory and the certificate of registration. No firm shall carry on any business by the same name without causing to effect renewal.
5 11A. Concerned Department may seek particulars :

(1) The concerned Department may seek particulars of accounts from the firm registered under this Act.
(2) It shall be the duty of such firm to submit the particulars of accounts sought pursuant to Sub-section (1) to the concerned Department.
6 11B. Power to cancel registration :

(1) The concerned Department may cancel registration of a firm which is registered under this Act in the following conditions;
(a) If a firm registered for commercial business fails to cause to effect renewal of the firm within stipulated
time.
(b) If the partners submit an application to terminate the registration of the firm upon setting out reasonable
reasons thereof to the concerned Department.
(c) If a firm fails to submit the particulars sought by the concerned Department pursuant to Section 11a within
prescribed period.
(d) If an industry related firm closes down the operating industry, whether by providing notice thereof to the
concerned Department or not.
(e) If an industry related firm fails to cause to effect the renewal of the firm within the prescribed time from the
expiry of validity period to renew the firm; or fails to submit the written progress report on the action as may
be required to be taken for the construction of factory, purchase of machinery or tools or equipment and
operation of the industry in order to establish and operate the industry as per the condition of the license
despite the firm has been renewed.
(f) If a firm commits an act in contravention of this Act or Rules framed hereunder.
(2) The concerned Department shall give a reasonable opportunity to the concerned firm to submit it’s clarification before canceling the registration of that firm pursuant to Clauses (a), (c) (d) (e) or (f) of Sub- section 1.
(3) If the concerned Department cancels the registration of a firm pursuant to Clauses (a), (c), (d) (e) or (f) of Sub-section (1), no any other firm which carries the same objectives shall be registered in the name of  such partners of that firm for a period of one year.

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