Section 1 of LLP Act, 2008 : Section 1: Short Title, Extent And Commencement

Explanation using Example

Imagine a group of entrepreneurs in Mumbai decide to start a technology consulting business. They want the flexibility of a partnership but with the benefit of limited liability for its partners, akin to a corporation. They come across the Limited Liability Partnership Act, 2008, which applies to the whole of India, including Mumbai. They learn that this Act allows them to form a Limited Liability Partnership (LLP), combining the benefits of a partnership's flexibility and the limited liability of a company.

Before they proceed, they also check the latest notifications by the Central Government to ensure that all the provisions they are interested in are currently in force, as the Act can commence different provisions at different times.