The Limited Liability Partnership Act, 2008
The Limited Liability Partnership Act, 2008 regulates the formation, operation, and management of limited liability partnerships in India.
Summary
The Limited Liability Partnership Act, 2008 was enacted to provide a legal framework for the formation, operation, and management of limited liability partnerships in India. It allows the creation of a partnership that provides limited liability to its partners, making it an attractive business structure for entrepreneurs. The Act sets out the procedures for the incorporation of a limited liability partnership, the rights and duties of partners, and the rules for the management and winding up of the partnership. It also provides for the registration and regulation of limited liability partnerships, and establishes the powers and functions of the Registrar of LLPs.
Table of Contents
| # | Section | Link |
|---|---|---|
| 1 | Section 1: Short Title, Extent And Commencement | Open |
| 2 | Section 2: Definitions | Open |
| 3 | Section 3: Limited Liability Partnership To Be Body Corporate | Open |
| 4 | Section 4: Non-Applicability Of The Indian Partnership Act, 1932 | Open |
| 5 | Section 5: Partners | Open |
| 6 | Section 6: Minimum Number Of Partners | Open |
| 7 | Section 7: Designated Partners | Open |
| 8 | Section 8: Liabilities Of Designated Partners | Open |
| 9 | Section 9: Changes In Designated Partners | Open |
| 10 | Section 10: Punishment For Contravention Of Sections 7 And 9 | Open |
| 11 | Section 11: Incorporation Document | Open |
| 12 | Section 12: Incorporation By Registration | Open |
| 13 | Section 13: Registered Office Of Limited Liability Partnership And Change Therein | Open |
| 14 | Section 14: Effect Of Registration | Open |
| 15 | Section 15: Name | Open |