CONVERSION FROM PRIVATE COMPANY INTO LIMITED LIABILITY PARTNERSHIP

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....imited liability partnership in accordance with this Schedule. Eligibility for conversion of private companies into limited liability partnership. 2. (1) A company may convert into a limited liability partnership by complying with the requirements as to the conversion set out in this Schedule. (2) A company may apply to convert into a limited liability partnership in accordance with this Schedule if and only if- (a) there is no security interest in its assets subsisting or in force at the time of application; and (b) the partners of the limited liability partnership to which it converts comprise all the shareholders of the company and no one else. (3) Upon such conversion, the company, its shareholders, the limited liability partners....

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....r. 5. (1) Nothing in this Schedule shall be construed as to require the Registrar to register any limited liability partnership if he is not satisfied with the particulars or other information furnished under the provisions of this Act: Provided that an appeal may be made before the Tribunal in case of refusal of registration by the Registrar. (2) The Registrar may, in any particular case, require the documents referred to in paragraph 3 to be verified in such manner, as he considers fit. Effect of registration. 6. On and from the date of registration specified in the certificate of registration issued under paragraph 4- (a) there shall be a limited liability partnership by the name specified in the certificate of registration registe....

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....y immediately before the date of registration, whether or not of such nature that the rights and liabilities thereunder could be assigned, shall have effect as from that date as if- (a) the limited liability partnership were a party to such an agreement instead of the company; and (b) for any reference to the company, there were substituted in respect of anything to be done on or after the date of registration a reference to the limited liability partnership. Existing contracts, etc. 11. All deeds, contracts, schemes, bonds, agreements, applications, instruments and arrangements subsisting immediately before the date of registration relating to the company or to which the company is a party shall continue in force on and after that date....