MCQs on The Limited Liability Partnership Act, 2008 Part -2

Q.1:- Any change in the partners of a limited liability partnership:

• May be made only with the permission of the Registrar.
• Shall not affect the existence, rights or liabilities of the limited liability partnership.
• Shall affect its existence.
• Shall affect the rights or liabilities of the limited liability partnership.

Q.2:- What is the filing fee for LLP in case where the contribution of LLP exceed Rs Five lakh but does not exceeds Rs Ten lakh:

• Rs.150.
• Rs. 200
• Rs.100.
• Rs. 50.

Q.3:- A limited liability partnership shall, where a person becomes or ceases to be a partner and where there is any change in the name and address of the partner, file a notice with the Registrar:

• Within thirty days from the date he becomes or ceases to be a partner.
• Within sixty days from the date he becomes or ceases to be a partner.
• Within fifteen days from the date he becomes or ceases to be a partner.
• Within forty five days from the date he becomes or ceases to be a partner.

Q.4:- To what extent is the liability of a partner in LLP:

• A partner is personally liable, 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.
• A partner is personally liable, directly for an obligation referred to in sub-section (3) of section 27 solely by reason of being a partner of the limited liability partnership.
• A partner is not personally liable, directly or indirectly for an obligation referred to in sub- section(3) of section will solely by reason of being a partner of the limited liability partnership.
• None of the above.

Q.5:- Every partner shall inform the limited liability partnership of any change in his name or address within a period of fifteen days of such change. If any partner contravenes this provisions such partner shallbe punishable with fine:

• Which shall not be less than two thousand rupees but which may extend to twenty-five thousand rupees.
• Which shall not be less than one thousand rupees but which may extend to twenty-five thousand rupees.
• Which shall not be less than four thousand rupees but which may extend to twenty-five thousand rupees.
• Which shall not be less than three thousand rupees but which may extend to twenty-five thousand rupees.

Q.6:- In terms of section 25 (2), every partner shall intimate change in his name or address to the LLP in a prescribed form, which is:

• Form No. 5
• Form No. 6
• Form No. 6
• Form No.3

Q.7:- Every partner shall inform limited liability partnership of any change on his name or address:

• Within a period of fifteen days of such change.
• Within a period of twenty eight days of such change.
• Within a period of seven days of such change.
• Within a period of twenty one days of such change.

Q.8:- In the absence of agreement as to any matter, the mutual rights and duties of the partners and the mutual rights and duties of the limited liability partnership and the partners shall be determined by the provisions relating to that matter, which are set out in:

• The Second Schedule.
• The Fourth Schedule.
• The First Schedule
• The Third Schedule.

Q.9:- In terms of section 7 (4) the particulars of an individual who has given his consent to act as designated partner shall be filed in:

• Form 5
• D. Form 6
• Form 3
• Form 4

Q.10:- What is the filing fee for LLP in case where the contribution of LLP does not exceed Rs One lakh:

• Rs.100.
• Rs.200.
• Rs. 50.
• Rs.150.

Q.11:- Who shall be treated as partners of LLP:

• Any other person may become a partner of the limited liability partnership by and in accordance with the limited liability partnership agreement.
• The persons who subscribed their names to the incorporation document at time of the incorporation of a limited liability partnership.
• Both A and B are correct
• None of the above.

Q.12:- A person may cease to be a partner of a limited liability partnershipin accordance with an agreement with the other partners or, in the absence of agreement with the other partners as to cessation of being a partner, by giving a notice in writing of___ to the other partners of his intention to resign as partner:

• not less than thirty days
• not less than forty five days
• not less than sixty days
• not less than fifteen days

Q.13:- What is the registration fee of a LLP whose contribution exceeds Rs One lakh but does not exceeds Rs Five lakh:

• Rs.1000
• Rs.3000
• Rs.2000
• Rs. 4000.

Q.14:- Section 7 (1) of the LLP Act 2008 provides that 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. If any LLP contravenes the said the LLP and its every partner shall be punishable with fine. What is that punishment:

• The LLP and its every partner shall be punishable with fine which shall not be less than ten thousand rupees but which may extend to five lakh rupees.
• The LLP and its every partner shall be punishable with fine which shall not be less than five thousand rupees but which may extend to five lakh rupees.
• The LLP and its every partner shall be punishable with fine which shall not be less than twenty thousand rupees but which may extend to five lakh rupees.
• The LLP and its every partner shall be punishable with fine which shall not be less than fifteen thousand rupees but which may extend to five lakh rupees.

Q.15:- Who can be a designated partner in LLP where all the partners are bodies corporate:

• The Company Secretaries of the body corporate shall act as designated partners.
• The Chief Financial Officers of the body corporate shall act as designated partners.
• Nominees of such bodies corporate shall act as designated partners.
• The Managing Directors of the body corporate shall act as designated partners.

Q.16:- What is Designated Partnership Identification Number(DPIN):

• It includes Directors Identification Number (DIN) issued under sections 266A, 266B and 266E of the Companies Act, 1956 and rules made there under.
• It means an identification number which the Central Government may allot to any individual intending to be appointed as designated partner of LLP.
• Both A and B are correct.
• None of the above.

Q.17:- What is the filing fee for LLP in case where the contribution of LLP exceed Rs One lakh but does not exceeds Rs Five lakh:

• Rs.150.
• Rs. 200
• Rs.100.
• Rs. 50.