Under the Limited Liability Partnership Act, 2008, which of the following circumstances is not one…
Section 24(2) specifies events that automatically end an LLP partner’s status, including dissolution of the LLP, a competent court’s declaration of unsoundness of mind, and…
Choose your answer
Under the Limited Liability Partnership Act, 2008, which of the following circumstances is not one where a partner of an LLP will cease to be a partner?
Answer and explanation
Correct answer D
Section 24(2) specifies events that automatically end an LLP partner’s status, including dissolution of the LLP, a competent court’s declaration of unsoundness of mind, and applying to be or being declared insolvent. Conviction for an unspecified offence is not one of these automatic statutory events. Separate terms of an LLP agreement may govern cessation, but no such term is given here.
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