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Home Acts & Rules Bill Bills Limited Liability Partnership Bill, 2008

Limited Liability Partnership Bill, 2008

 
Clause 1 : Short title, extent and commencement
Clause 2 : Definitions
Clause 3 : Limited liability partnership to be body corporate
Clause 4 : Non-applicability of the Indian Partnership Act, 1932
Clause 5 : Partners
Clause 6 : Minimum number of partners
Clause 7 : Designated partners
Clause 8 : Liabilities of designated partners
Clause 9 : Changes in designated Partners
Clause 10 : Punishment for contravention of section 7, 8 and 9
Clause 11 : Incorporation document
Clause 12 : Incorporation by registration
Clause 13 : Registered office of limited liability partnership and change therein
Clause 14 : Effect of registration
Clause 15 : Name
Clause 16 : Reservation of name
Clause 17 : Change of name of limited liability partnership
Clause 18 : Application for direction to change name in certain circumstances
Clause 19 : Change of registered name
Clause 20 : Penalty for improper use of words "limited liability partnership" or "LLP"
Clause 21 : Publication of name and limited liability
Clause 22 : Eligibility to be partners
Clause 23 : Relationship of partners
Clause 24 : Cessation of partnership interest
Clause 25 : Registration of changes in partners
Clause 26 : Partner as agent
Clause 27 : Extent of liability of limited liability partnership
Clause 28 : Extent of liability of partner
Clause 29 : Holding out
Clause 30 : Unlimited liability in Case of fraud
Clause 31 : Whistle blowing
Clause 32 : Form of contribution
Clause 33 : Obligation to contribute
Clause 34 : Maintenance of books of account, other records and audit, etc.
Clause 35 : Annual return
Clause 36 : Inspection of documents kept by Registrar
Clause 37 : Penalty for false statement
Clause 38 : Power of Registrar to obtain information
Clause 39 : Compounding of offences
Clause 40 : Destruction of old records
Clause 41 : Enforcement of duty to make returns, etc.
Clause 42 : Partner's transferable interest
Clause 43 : Investigation of the affairs of limited liability partnership
Clause 44 : Application by partners for investigation
Clause 45 : Firm, body corporate or association not to be appointed as inspector
Clause 46 : Power of Inspectors to carry out investigation into affairs of related entities, etc.
Clause 47 : Production of documents and evidence
Clause 48 : Seizure of documents by inspector
Clause 49 : Inspector's report
Clause 50 : Prosecution
Clause 51 : Application for winding up of limited liability partnership
Clause 52 : Proceedings for recovery of damages or property
Clause 53 : Expenses of investigation
Clause 54 : Inspector's report to be evidence
Clause 55 : Conversion from firm into limited liability partnership
Clause 56 : Conversion from private company into limited liability partnership
Clause 57 : Conversion from unlisted public company into limited liability partnership
Clause 58 : Registration and effect of conversion
Clause 59 : Foreign limited liability partnership
Clause 60 : Compromise, or arrangement of limited partnerships
Clause 61 : Power of Tribunal to enforce compromise or arrangement
Clause 62 : Provisions for facilitating reconstruction or amalgamation of limited liability partnerships
Clause 63 : Winding up and dissolution
Clause 64 : Circumstances in which limited liability partnership may be wound up by Tribunal
Clause 65 : Rules for winding up and dissolution
Clause 66 : Business transactions of partner with limited liability partnership
Clause 67 : Application of the provision of the Companies Act
Clause 68 : Electronic filing of documents
Clause 69 : Payment addition
Clause 70 : Enhanced punishment
Clause 71 : Application of other law not barred
Clause 72 : Jurisdiction of Tribunal and Appellate Tribunal
Clause 73 : Penalty or non-compliance of any order passed by Tribunal
Clause 74 : General penalties
Clause 75 : Power of Registrar to strike defunct limited liability partnership off register
Clause 76 : Offences by limited partnerships
Clause 77 : Jurisdiction of Court
Clause 78 : Power to alter Schedules
Clause 79 : Power to make rules
Clause 80 : Power to remove difficulties
Clause 81 : Transitional provisions
MEMORANDUM : MEMORANDUM REGARDING DELEGATED LEGISLATION
Notes : Notes on clauses
SCH 01 : PROVISIONS REGARDING MATTERS RELATING TO MUTUAL RIGHTS AND DUTIES OF PARTNERS AND LIMITED LIABILITY PARTNERSHIP AND ITS PARTNERS APPLICABLE IN THE ABSENCE OF ANY AGREEMENT ON SUCH MATTERS
SCH 02 : CONVERSION FROM FIRM INTO LIMITED LIABILITY PARTNERSHIP
SCH 03 : CONVERSION FROM PRIVATE COMPANY INTO LIMITED LIABILITY PARTNERSHIP
SCH 04 : CONVERSION FROM UNLISTED PUBLIC COMPANY INTO LIMITED LIABILITY PARTNERSHIP
STATEMENT : STATEMENT OF OBJECTS AND REASONS
 
 
 
 
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