Page 158 - DMGT407Corporate and Business Laws

Unit 6: Partnership Act and Limited Liability Act

When an alteration is made in the name of the firm or in the location of its principal place of Notes
business, s. 60 requires that the information be sent to the Registrar of Firms.

6.2.2 Miscellaneous Provisions as regards Registration

Sections 60-63, 67-68 and 70 contain following provisions having a bearing on registration of
firms:
1. Alterations. Any alteration relating to the following matters in the case of a registered
firm must be intimated to the Registrar of Firms: (a) Alteration’s in firm, name and
principal place of business (s.60), (b) closing and opening of branches (s.61), (c) changes in
the name and addresses of partners (s.62), (d) changes in the constitution of a registered
firm (s.63), (e) election by a minor, on attaining majority, to continue as partner or severe
his connection with the firm (s.63), (f) dissolution of the firm (s.63). The Registrar of Firms
will incorporate these changes in the Register of Firms.
2. Penalty for false particulars: Section 70 provides that any person who signs any statement,
amending statement, notice or intimation as regards a registered firm and as required
under the Act should be true and complete. If any person knowingly, or without belief in
its truth, furnishes false or incomplete information, he is punishable with imprisonment
which may extend to three months or with fine or with both.
3. Rectification of mistakes: Section 64 empowers the Registrar of Firms to rectify any
mistake in order to bring the entry in the Register of Firms relating to any firm in
conformity with the documents relating to the firm filed with him. Further, on an
application made by all the parties who have signed any document relating to a firm filed
with the Registrar, he may rectify any mistake in such document or in the record or note
thereof made in the Register of Firms.
4. Amendment of register by order of court: Section 65 provides that a court deciding any
matter relating to a registered firm may direct the Registrar to amend any entry in the
Register of Firms.

5. Inspection of register and filed documents: Section 66 provides that the Register of Firms
shall be open to inspection by any person on payment of a fee as prescribed for the
purpose. Further all the statements, notices and intimations filed with the registrar shall
be open to inspection, subject to conditions and fee prescribed.
6. Grant of copies: Section 67 provides that the Registrar shall, on applications furnish to any
person on payment of the prescribed fee a certified copy of any entry in the Register of
Firms.

7. Rules of evidence: Section 68 provides that any statement, notice or intimation recorded
with the Registrar by any person shall be a conclusive proof against him of any fact stated
therein. Entries relating to a firm in the Register of Firms may be proved by producing
certified copies of the entries.

Did u know? Registration of Firms is Optional
The Act does not provide for compulsory registration of firms. It is optional and there is
no penalty for non-registration. But at the same time s.69 has effectively, ensured
registration of firms by introducing certain disabilities that an unregistered firm suffers
from. The firm cannot, for example, sue any person for the price of the goods supplied by
it. The disabilities associated with the non-registration of a firm are given by s.69.

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