Chapter 12: Limited Liability Partnership Act, 2008

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23 Questions

What is the purpose of the Limited Liability Partnership Act, 2008?

When was the Limited Liability Partnership Act, 2008 notified by the Ministry of Law and Justice?

What term is used to refer to the Limited Liability Partnership Act, 2008?

What does the LLP Act, 2008 aim to regulate?

What did the President of India do on 7th January, 2009 with regards to the LLP Bill?

What is the scope of the LLP Act, 2008?

What is the total number of sections in the LLP Act, 2008 after the omission of section 81?

Which schedule of the LLP Act, 2008 deals with the mutual rights and duties of partners and limited liability partnership in the absence of a formal agreement?

Who is entrusted with the task of administrating the LLP Act, 2008?

What authority does the Central Government have with regard to the LLP Act, 2008?

What is the main purpose of creating the Limited Liability Partnership as mentioned in the text?

What kind of vehicles is the LLP form suitable for?

What does LLP stand for?

What is the purpose of the Fourth Schedule in the LLP Act, 2008?

What was the main reason for enacting the LLP Act, 2008?

What is the role of the Ministry of Corporate Affairs and the Registrar of Companies (ROC) with regard to the LLP Act, 2008?

What is NOT applicable to Limited Liability Partnerships (LLPs)?

Why was there a need for creating a new form of business organization like LLP?

What is the main focus of the Limited Liability Partnership Act, 2008?

What was the significance of the President of India's assent to the LLP Bill on 7th January, 2009?

What is the purpose of the Limited Liability Partnership Act, 2008 as per the text?

Which entity is responsible for the enactment of the Limited Liability Partnership Act, 2008?

What area does the Limited Liability Partnership Act, 2008 primarily cover?

Description

Test your understanding of the Limited Liability Partnership Act, 2008. Learn about the meaning of 'Limited Liability Partnership', its incorporation, partner relations, financial disclosures, conversions, winding up, and dissolution. Differentiate between LLP and other forms of organizations.

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