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Partnership Amendment Deed Template for Malaysia

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Key Requirements PROMPT example:

Partnership Amendment Deed

"I need a Partnership Amendment Deed to add a new partner to our existing 3-partner medical practice in Kuala Lumpur, with the new profit-sharing ratio to be effective from March 1, 2025."

Document background
The Partnership Amendment Deed is a crucial legal instrument used in Malaysian business practice when partners need to modify their existing partnership arrangements. This document becomes necessary when partners wish to make changes to their original partnership agreement, such as admitting new partners, adjusting profit-sharing ratios, updating management responsibilities, or modifying capital contributions. The deed must comply with the Partnership Act 1961 and other relevant Malaysian legislation, ensuring that all modifications are legally binding and properly documented. It serves as an official record of the agreed changes and helps prevent future disputes by clearly articulating the amendments to the original partnership terms. The document is particularly important for maintaining legal clarity and protecting partners' interests during any significant changes to the partnership structure.
Suggested Sections

1. Parties: Identifies all current partners and any incoming/outgoing partners affected by the amendment

2. Background: Recites the existence of the original partnership agreement, its date, and the reason for amendment

3. Definitions: Defines key terms used in the deed, including references to the original partnership agreement

4. Interpretation: Sets out rules for interpreting the deed and its relationship with the original partnership agreement

5. Amendment Effective Date: Specifies when the amendments take effect

6. Amendments to Original Agreement: Details the specific clauses being amended and their new content

7. Confirmation of Other Terms: Confirms that all other terms of the original partnership agreement remain unchanged

8. Costs: Specifies how costs related to the preparation and execution of the amendment deed are to be borne

9. Governing Law: Confirms Malaysian law as the governing law

10. Execution: Formal execution block for all partners to sign

Optional Sections

1. Change in Profit Sharing: Required when amendments involve changes to profit and loss distribution

2. Capital Contribution Changes: Include when partners are making changes to their capital contributions

3. Management Rights: Include when changing management responsibilities or voting rights

4. Addition of New Partner: Required when a new partner is being admitted to the partnership

5. Retirement of Partner: Required when an existing partner is leaving the partnership

6. Business Name Change: Include if the partnership name is being changed

7. Term Extension: Required if extending or modifying the partnership's duration

Suggested Schedules

1. Schedule 1 - Original Partnership Agreement: Copy of the original partnership agreement being amended

2. Schedule 2 - Amended Partnership Terms: Clean version of all amended clauses in their final form

3. Schedule 3 - Capital Accounts: Updated statement of partners' capital accounts (if relevant)

4. Schedule 4 - New Profit Sharing Ratios: Detailed breakdown of revised profit sharing arrangements (if relevant)

5. Schedule 5 - Consent Resolutions: Partners' resolutions approving the amendments

6. Appendix A - Registration Documents: Copies of updated business registration documents required under Malaysian law

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions





























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Relevant Industries

Professional Services

Legal Services

Accounting & Audit

Medical Practices

Architecture & Design

Engineering Consultancy

Real Estate

Management Consulting

Financial Services

Retail & Trading

Food & Beverage

Construction

Technology Services

Relevant Teams

Legal

Finance

Compliance

Corporate Secretarial

Risk Management

Operations

Business Development

Partnership Management

Professional Practice

Administration

Relevant Roles

Managing Partner

Senior Partner

Junior Partner

Legal Counsel

Corporate Lawyer

Business Development Manager

Chief Financial Officer

Financial Controller

Company Secretary

Risk Manager

Compliance Officer

Partnership Administrator

Business Manager

Operations Director

Professional Practice Manager

Industries





Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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