Private Trust become a Partner in LLP

[PRIYAM KHAMBHATA]

Respected Sir / Madam,

I need guidance on following issues

In LLP, there are two designated partners (Individual) Mr. A and Mr. B. Further Mr. A is also trustee of a Private Discretionary Trust.

Is there any provision or rules as per LLP Act, that any Partner of the LLP, who is also a trustee of Private discretionary trust, can assign his share/interest in the LLP, and transfer to Private Discretionary Trust, act as representative Partner of the LLP.

Please guide me on with short write up with provision of LLP Act, one designated Partner of LLP, who is Trustee of Private discretionary trust, can Act representative Partner of the LLP. There is Income tax Assessment proceeding is going on in Private discretionary trust

Thanks

AI Summary

Transfer of LLP partnership interest to a private discretionary trust raises questions on partner representation and designation.
Transfer of an LLP partner's share or interest to a private discretionary trust raises questions about whether the trust may hold the interest and participate through its trustee as representative partner. Guidance is sought on assignment or transfer of partnership interests, the trust's status in an LLP, and the trustee's capacity to remain a designated partner while representing the trust.