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The Limited Liability Partnership Act, 2008 was enacted by the Parliament of India to introduce and legally sanction the concept of LLP in India. Unlike the general partnerships in India, LLP is a body corporate and legal entity separate from its partners, have Perpetual succession and any change in the partners of an LLP shall not affect the existence, rights or liabilities of the LLP.
Limited liability partnerships emerged in the early 1990s: while only two states allowed LLPs in 1992, over forty had adopted LLP statutes by the time LLPs were added to the Uniform Partnership Act in 1996. [23] The limited liability partnership was formed in the aftermath of the collapse of real estate and energy prices in Texas in the 1980s.
Societies Registration Act, 1860; The Companies Amendment Act, 2006; The Limited liability Partnership Act, 2008; In August 2013, The Companies Act, 2013 was passed to regulate corporations by increasing responsibilities of corporate executives and is intended to avoid the accounting scandals such as the Satyam scandal which have plagued India. [2]
Download as PDF; Printable version; In other projects Wikimedia Commons; ... The Limited Liability Partnership Act, 2008; Limited Liability Partnerships Act 2000;
File:The Small Limited Liability Partnerships (Accounts) Regulations 2008 (UKSI 2008-1912).pdf. Add languages. Page contents not supported in other languages.
A partnership is a form of business that has more than one owner. A limited liability partnership (LLP) incorporates some elements of a corporation and some elements of a partnership.
LLP stands for limited liability partnership, a partnership in which some or all partners have limited liabilities. LLP may also refer to: Limited liability partnerships in the United Kingdom; The Limited Liability Partnership Act, 2008 (LLP Act) of India; LLP Group, a Czech holding company
LLP (Limited liability partnership): partnerships are governed on a state-by-state basis in Australia. In Queensland, a limited liability partnership is composed of at least one general partner and one limited partner. It is thus similar to what is called a limited partnership in many countries.