Form LBOF2 - Change of Beneficial Owners’ Particulars (Limited Liability Partnership)

Form LBOF2 is the official “Change of Beneficial Owners’ Particulars” form for Limited Liability Partnerships (LLPs) in Kenya. It is prescribed under Rule 5(2) and Section 31B of the Limited Liability Partnerships Act, 2011. This form is used when there is a change in the registered particulars of beneficial owners of an LLP, such as change of name, address, nationality, identification details, or nature of control.

Purpose of Form LBOF2:
The form ensures that the records of the Registrar remain accurate and up-to-date whenever there is a change in beneficial ownership particulars. Its main purposes are:
1. Statutory Compliance
- Section 31B requires LLPs to not only maintain a register of beneficial owners but also to promptly notify the Registrar of any changes.
2. Ensures that the Registrar always has the current particulars of the actual individuals who ultimately own or control the LLP.
3. Makes it harder to hide beneficial ownership or changes in control, strengthening corporate governance.
4. Timely reporting of beneficial ownership changes helps regulatory authorities detect unusual transfers of control or hidden arrangements.