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Statutory Provisions

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

Clause 6 - Minimum number of partners - Limited Liability Partnership Bill, 2008

Limited Liability Partnership Bill, 2008
  • Contents

Minimum number of partners.

6. (1) Every limited liability partnership shall have at least two partners.

(2) If at any time the number of partners of a limited liability partnership is reduced below two and the limited liability partnership carries on business for more than six months while the number is so reduced, the person, who is the only partner of the limited liability partnership during the time that it so carries on business after those six months and has the knowledge of the fact that it is carrying on business with him alone, shall be liable personally for the obligations of the limited liability partnership incurred during that period.

 
 
 
 

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