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 28

Title: Extent of Liability of Partner

State: Central

Year: 2008

(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) The provisions of sub-section (3) of section 27 and sub-section (1) of this section shall not affect the personal liability of a partner for his own wrongful act or omission, but a partner shall not be personally liable for the wrongful act or omission of any other partner of the limited liability partnership.

Limited Liability Partnership Act, 2008 Complete Act

State: Central

Year: 2008

.....constituted under sub- sec. (1) of Sec. 10-FB of the Companies Act, 1956 (1 of 1956). (2) Words and expressions used and not defined in this Act but defined in the Companies Act, 1956 (1 of 1956) shall have the meanings respectively assigned to them in that CHAPTER 2 NATURE OF LIMITED LIABILITY PARTNERSHIP Section 3 Limited liability partnership to be body corporate (1) A limited liability partnership is a body corporate formed and incorporated under this Act and is a legal entity separate from that of its partners. (2) A limited liability partnership shall have perpetual succession. (3) Any change in the partners of a limited liability partnership shall not affect the existence, rights or liabilities of the limited liability partnership. Section 4 Non-applicability of the Indian Partnership Act, 1932 Save as otherwise provided, the provisions of the Indian Partnership Act, 1932 (9 of 1932) shall not apply to a limited liability partnership. Section 5 Partners Any individual or body corporate may be a partner in a limited liability partnership: Provided that an individual shall not be capable of becoming a partner of a limited liability partnership, if- (a) he.....

Income Tax Act, 1961 Chapter XV

Title: Liability in Special Cases

State: Central

Year: 1961

.....of persons or body of individuals (other than a company or a co-operative society or a society registered under the Societies Registration Act, 1860 (21 of 1860) or under any law corresponding to that Act in force in any part of India) in the whole or any part of the income of such association or body are indeterminate or unknown, tax shall be charged on the total income of the association or body at the maximum marginal rate: Provided that, where the total income of any member of such association or body is chargeable to tax at a rate which is higher than the maximum marginal rate, tax shall be charged on the total income of the association or body at such higher rate. (2) Where, in the case of an association of persons or body of individuals as aforesaid [not being a case falling under sub-section (1)], - (i) the total income of any member thereof for the previous year (excluding his share from such association or body) exceeds the maximum amount which is not chargeable to tax in the case of that member under the Finance Act of the relevant year, tax shall be charged on the total income of the association or body at the maximum marginal rate; (ii) any member.....

Limited Liability Partnership Act 2008 Chapter III

Title: Incorporation of Limited Liability Partnership and Matters Incidental Thereto

State: Central

Year: 2008

.....which may extend to five lakh rupees. Section 12 - Incorporation by registration (1) When the requirements imposed by clauses (b) and (c) of sub-section (1) of section 11 have been complied with, the Registrar shall retain the incorporation document and, unless the requirement imposed by clause (a) of that sub-section has not been complied with, he shall, within a period of fourteen days-- (a) register the incorporation document; and (b) give a certificate that the limited liability partnership is incorporated by the name specified therein. (2) The Registrar may accept the statement delivered under clause (c) of sub-section (1) of section 11 as sufficient evidence that the requirement imposed by clause (a) of that sub-section has been complied with. (3) The certificate issued under clause (b) of sub-section (1) shall be signed by the Registrar and authenticated by his official seal. (4) The certificate shall be conclusive evidence that the limited liability partnership is incorporated by the name specified therein. Section 13 - Registered office of limited liability partnership and change therein (1) Every limited liability partnership shall have a registered.....

The Civil Liability for Nuclear Damage Act, 2010no. 38 of 2010[21st September, 2010.] Complete Act

Title: The Civil Liability for Nuclear Damage Act, 2010no. 38 of 2010[21st September, 2010.]

Year: 2010

.....liable for any nuclear damage where such damage is caused by a nuclear incident directly due to- (i) a grave natural disaster of an exceptional character; or (ii) an act of armed conflict, hostility, civil war, insurrection or terrorism. (2) An operator shall not be liable for any nuclear damage caused to-(i) the nuclear installation itself and any other nuclear installation including a nuclear installation under construction, on the site where such installation is located; and (ii) to any property on the same site which is used or to be used in connection with any such installation; or(iii) to the means of transport upon which the nuclear material involved was carried at the time of nuclear incident: Provided that any compensation liable to be paid by an operator for a nuclear damage shall not have the effect of reducing the amount of his liability in respect of any other claim for damage under any other law for the time being in force.(3) Where any nuclear damage is suffered by a person on account of his own negligence or from his own acts of commission or omission, the operator shall not be liable to such person. 6. Limits of liability. - (1) The maximum amount of liability.....

Limited Liability Partnership Act 2008 Chapter II

Title: Nature of Limited Liability Partnership

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-section (1),-- (i) if the incorporation document-- (a) specifies who are to be designated.....

Limited Liability Partnership Act 2008 Chapter XII

Title: Compromise, Arrangement or Reconstruction of Limited Liability Partnerships

State: Central

Year: 2008

.....any other person by whom an application has been made under sub-section (1) has disclosed to the Tribunal, by affidavit or otherwise, all material facts relating to the limited liability partnership, including the latest financial position of the limited liability partnership and the pendency of any investigation proceedings in relation to the limited liability partnership. (3) An order made by the Tribunal under sub-section (2) shall be filed by the limited liability partnership with the Registrar within thirty days after making such an order and shall have effect only after it is so filed. (4) If default is made in complying with sub-section (3), the limited liability partnership, and every designated partner of the limited liability partnership shall be punishable with fine which may extend to one lakh rupees. (5) The Tribunal may, at any time after an application has been made to it under this section, stay the commencement or continuation of any suit or proceeding against the limited liability partnership on such terms as the Tribunal thinks fit, until the application is finally disposed of. Section 61 - Power of Tribunal to enforce compromise or arrangement (1).....

Personal Injuries (Compensation Insurance) Act, 1963 Chapter III

Title: Personal Injuries (Compensation Insurance) Scheme

State: Central

Year: 1963

.....being in this Section referred to as the contractor) the principal shall obtain from the contractor the name of the agent of the Central Government acting under Section. 11 with whom he intends to insure, and shall report to the agent the existence of his agreement or contract with the contractor. (2) Notwithstanding anything elsewhere contained in this Act, in any such case as is referred to in sub-Section (1), it shall not be necessary for the contractor to insure against the liabilities imposed on him by this Act in respect of workmen employed by him whose services are lent or let on hire on such an arrangement or used in the execution of work on such a contract as is referred to in sub-Section (1), where the arrangement or contract is for a term of less than one month. (3) The Scheme may make provision for supply by a contractor to a principal of any information necessary to enable the purposes of this Section to be carried out including provision for punishment by fine not exceeding two thousand rupees for the contravention of any requirement of the Scheme. Section 11 - Employment of agents by the Central Government The Central Government may by notification employ.....

Limited Liability Partnership Act 2008 Section 30

Title: Unlimited Liability in Case of Fraud

State: Central

Year: 2008

.....limited liability partnership is liable to the same extent as the partner unless it is established by the limited liability partnership that such act was without the knowledge or the authority of the limited liability partnership. (2) Where any business is carried on with such intent or for such purpose as mentioned in sub-section (1), every person who was knowingly a party to the carrying on of the business in the manner aforesaid shall be punishable with imprisonment for a term which may extend to two years and with fine which shall not be less than fifty thousand rupees but which may extend to five lakh rupees. (3) Where a limited liability partnership or any partner or designated partner or employee of such limited liability partnership has conducted the affairs of the limited liability partnership in a fraudulent manner, then without prejudice to any criminal proceedings which may arise under any law for the time being in force, the limited liability partnership and any such partner or designated partner or employee shall be liable to pay compensation to any person who has suffered any loss or damage by reason of such conduct: Provided that such limited liability.....