Question 5 (b)

Provisions on incorporation

9.375 marks

Time to write
About 19 minutes

From an older CBCS paper

Question

Question 5 (b) · 9.375 marks

and discuss what the Limited Liability Partnership Act, 2008 provides on the Incorporation of a Limited Liability Partnership.

Reworded from the university paper; the task is the same. The original paper belongs to the University of Delhi. See DU's question bank.

Before you write

Read off the question and its marks

19 minfor 9.4 marks

Read from the question

  • DiscussEach point named and explained, not just listed.

What the paper leaves open

The paper prints no mark per question (any four of six, equal marks, 75 in all); each question is reckoned here at 18.75 marks. Marked as one question of 18.75 marks; answered here in 2 parts of 9.375 marks each (marks inferred).

Write it in this order

  1. Read; underline the asks; jot your points 1 min
  2. 1 Incorporation 9.4 marks 17 min
  3. Check: every ask answered, key terms underlined 1 min

Try it first. About 19 minutes for 9.375 marks. Write it out, then open the solution.

Solution

Hover or tap a marked figure, like 72,000, to see how it is made and where else it appears.

Incorporation (ss. 11 and 12):

  1. “Two or more persons associated for carrying on a lawful business with a view to profit” subscribe their names to an incorporation document (s. 11(1)(a)).
  2. The incorporation document, in the prescribed form, states the LLP's name, its proposed business, the address of its registered office, the names and addresses of its partners and designated partners on incorporation, and other prescribed information (s. 11(2)).
  3. It is filed with the prescribed fee with the Registrar of the State in which the registered office is to be situated (s. 11(1)(b)).
  4. A statement of compliance is filed, made by an advocate, company secretary, chartered accountant or cost accountant engaged in the formation, and by one of the subscribers (s. 11(1)(c)).
  5. On compliance, the Registrar registers the document within 14 days and issues a certificate that the LLP is incorporated by the name specified (s. 12).

Where the 9.375 marks sit

#ComponentMarks
1Incorporation9.375
Total9.375
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