Limited Liability Partnership (LLP) Act 2008 | CA Foundation Business Law Chapter 4 | Chandan Poddar

In This Video We Will Discuss Limited Liability Partnership (LLP) Act 2008 for CA Foundation Business Law and CA Foundation Law Chapter 4 have been discussed by Chandan Poddar Sir For CA Foundation Grooming Education.

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Watch Next:-
〇 Indian Partnership Act of 1932:
https://youtu.be/JF5yOmnRtdU

〇 Sales of Goods Act 1930:
https://youtu.be/yx-eKnlc78k

THE LIMITED LIABILITY PARTNERSHIP ACT, 2008
1 Short title, extent and commencement. -
(1) This Act may be called the Limited Liability Partnership Act, 2008.
(2) It extends to the whole of India.
(3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint: Provided that different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision.

2 Definitions. -
(1) In this Act, unless the context otherwise requires,-
(a) "address", in relation to a partner of a limited liability partnership, means-
(i) if an individual, his usual residential address; and
(ii) if a body corporate, the address of its registered office;
(b) "advocate" means an advocate as defined in clause (a) of sub-section (1) of section 2 of the Advocates Act, 1961 (25 of 1961);
(c) "Appellate Tribunal" means the National Company Law Appellate Tribunal constituted under sub-section (1) of section 10FR of the Companies Act, 1956 (1 of 1956);
(d) "body corporate" means a company as defined in section 3 of the Companies Act, 1956 (1 of 1956) and includes-
(i) a limited liability partnership registered under this Act;
(ii) a limited liability partnership incorporated outside India; and
(iii) a company incorporated outside India, but does not include-
(i) a corporation sole;
(ii) a co-operative society registered under any law for the time being in force; and
(iii) any other body corporate (not being a company as defined in section 3 of the Companies Act, 1956 (1 of 1956) or a limited liability partnership as defined in this Act), which the Central Government may, by notification in the Official Gazette, specify in this behalf;
(e) "business" includes every trade, profession, service and occupation;
(f) "chartered accountant" means a chartered accountant as defined in clause (b) of sub-section (1) of section 2 of the Chartered Accountants Act, 1949 (38 of 1949) and who has obtained a certificate of practice under sub-section (1) of section 6 of that Act;
(g) "company secretary" means a company secretary as defined in clause (c) of sub-section (1) of section 2 of the Company Secretaries Act, 1980 (56 of 1980) and who has obtained a certificate of practice under sub-section (1) of section 6 of that Act;
(h) "cost accountant" means a cost accountant as defined in clause (b) of sub­-section (1) of section 2 of the Cost and Works Accountants Act, 1959 (23 of 1959) and who has obtained a certificate of practice under sub-section (1) of section 6 of that Act;
(i) "Court", with respect to any offence under this Act, means the Court having jurisdiction as per the provisions of section 77;
(j) "designated partner" means any partner designated as such pursuant to section 7;

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