Form LBOF4 - Notice of Ceasing to be a Beneficial Owner (Limited Liability Partnership)

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Form LBOF4 is the official “Notice of Ceasing to be a Beneficial Owner” for Limited Liability Partnerships (LLPs) in Kenya. It is prescribed under Rule 5(4) and Section 31B of the Limited Liability Partnerships Act, 2011. This form is used to notify the Registrar of Limited Liability Partnerships when a person who was previously a beneficial owner of an LLP ceases to hold that status.

The form ensures that the LLP’s beneficial ownership register is updated when ownership or control ends.

Main Purposes:
1. Statutory Compliance
- Section 31B requires LLPs to keep the Registrar informed of any change in beneficial ownership, including when an individual ceases to be a beneficial owner.
2. Records the exact name, date of cessation, and reason for ceasing to be a beneficial owner.
3. Keeps the Registrar’s records current by removing individuals who no longer hold beneficial interest or control in the LLP.
4. Prevents misuse of LLPs by ensuring changes in ownership/control are promptly reported, strengthening Kenya’s compliance with global anti-money laundering (AML) standards.

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Form LBOF4 - Notice of Ceasing to be a Beneficial Owner (Limited Liability Partnership)

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