Bare Act Search Results

Limited Liability Partnership Act 2008 Chapter V

Title: Extent and Limitation of Liability of Limited Liability Partnership Andpartners

State: Central

Year: 2008

.....partnership (1) A limited liability partnership is not bound by anything done by a partner in dealing with a person if-- (a) the partner in fact has no authority to act for the limited liability partnership in doing a particular act; and (b) the person knows that he has no authority or does not know or believe him to be a partner of the limited liability partnership. (2) The limited liability partnership is liable if a partner of a limited liability partnership is liable to any person as a result of a wrongful act or omission on his part in the course of the business of the limited liability partnership or with its authority. (3) An obligation of the limited liability partnership whether arising in contract or otherwise, shall be solely the obligation of the limited liability partnership. (4) The liabilities of the limited liability partnership shall be met out of the property of the limited liability partnership. Section 28 - Extent of liability of partner (1) A partner is not personally liable, directly or indirectly for an obligation referred to in sub-section (3) of section 27 solely by reason of being a partner of the limited liability partnership. (2).....

Limited Liability Partnership Act 2008 Section 31

Title: Whistle Blowing

State: Central

Year: 2008

(1) The Court or Tribunal may reduce or waive any penalty leviable against any partner or employee of a limited liability partnership, if it is satisfied that-- (a) such partner or employee of a limited liability partnership has provided useful information during investigation of such limited liability partnership; or (b) when any information given by any partner or employee (whether or not during investigation) leads to limited liability partnership or any partner or employee of such limited liability partnership being convicted under this Act or any other Act. (2) No partner or employee of any limited liability partnership may be discharged, demoted, suspended, threatened, harassed or in any other manner discriminated against the terms and conditions of his limited liability partnership or employment merely because of his providing information or causing information to be provided pursuant to sub-section (1).

Limited Liability Partnership Act, 2008 Complete Act

State: Central

Year: 2008

.....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. Section 7 Designated partners (1) Every limited liability partnership shall have at least two designated partners who are individuals and at least one of them shall be a resident in India: Provided that in case of a limited liability partnership in which all the partners are bodies corporate or in which one or more partners are individuals and bodies corporate, at least two individuals who are partners of such limited liability partnership or nominees of such bodies corporate shall act as designated partners. Explanation.- For the purposes of this section, the term "resident in India" means a person who has stayed in India for a period of not less than one hundred and eighty-two days during the immediately preceding one year. (2) Subject to the provisions of sub-sec. (1),- (i) if the incorporation document- (a) specifies who are to be designated partners, such.....

The Mizoram Cooperative Societies Act, 2006 Complete Act

State: Mizoram

Year: 2006

.....deemed registered under sub-section (4) or (5) of section 10, failed to fulfill the conditions required for registration of cooperative which fact was noticed only after it received the deemed status. (2) The power under sub-section (1) shall be exercised by the Registrar only after providing a reasonable oppol1unity of being heard to the existing chair person or chief promoter applicants and the answers or replies furnished by the existing chair person or chief promoters are not found satisfactory. 16. Bye-laws: (1) Every may make its own bye-laws or adopt in to or adopt with necessary changes the bye-laws prepared and published by State Government or the Registrar or that of same or similar kind of s, consistent with the provisions of this Act and rules made there under. (2) The bye-laws of co-operative shall have legal force only when it is registered by the Registrar under this Act. (3) The bye-laws of co-operative may provide for all or1most of the following subject maters namely: (a) the name address and area of operation of the co-operative; (b) the objective and purpose behind the formation of the co-operative explicitly stated as a common central.....