Limited Liability Partnership Bill, 2008
The Union Cabinet today gave its approval for introduction of a Limited Liability Partnership Bill, 2008 in the Parliament by replacing the Limited Partnership Bill, 2006.
The proposed Bill would facilitate creation of another corporate structure which would further enable growth of the economy.
The Limited Liability Partnership Bill, 2006 approved by the Cabinet on December 7, 2006, was introduced in the Rajya Sabha on 15th December, 2006. It was later referred to the Department Related Parliamentary Standing Committee on Finance for examination and report. The Committee submitted its report to both Houses of Parliament on 27th November, 2007, recommending some changes along with some suggestions regarding the LLP Bill, 2006.
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