Usually, **no for material changes, yes for non-material ones**.
- A GP/manager can generally amend the LPA **without LP approval** for:
- ministerial
- administrative
- non-material changes
- A GP/manager generally **does need LP approval** for:
- material amendments
- major governance or economic changes
- significant version upgrades
A common threshold referenced in Decile Base is **Majority in Interest** approval for major changes. The exact answer depends on the amendment section of that specific LPA.
Reference:
- https://decilehub.com/base/7129-ai_toolkit_feedback/163537-you-may-amend-non-material-items-major-changes-need-majority-approval
- A GP/manager can generally amend the LPA **without LP approval** for:
- ministerial
- administrative
- non-material changes
- A GP/manager generally **does need LP approval** for:
- material amendments
- major governance or economic changes
- significant version upgrades
A common threshold referenced in Decile Base is **Majority in Interest** approval for major changes. The exact answer depends on the amendment section of that specific LPA.
Reference:
- https://decilehub.com/base/7129-ai_toolkit_feedback/163537-you-may-amend-non-material-items-major-changes-need-majority-approval