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Q:

What shall be a Designated Partner responsbility?

Brief Explanation pls

Asked By: kirthi salim


A:

1. Responsible for the doing of all acts, matters and things as are required to be done by the LLP in respect of compliance of the provisions of this Act including filing of any document, return, statement and the like report pursuant to the provisions of  this Act and as may be specified in the limited liability partnership agreement; and
2. Liable to all penalties imposed on the LLP for any contravention of those provisions.


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