Question

    Under the Limited Liability Partnership Act, how can a

    firm convert into a limited liability partnership?
    A By obtaining a court order Correct Answer Incorrect Answer
    B By following the provisions of the Second Schedule and relevant Chapter Correct Answer Incorrect Answer
    C By filing a petition with the Registrar of Companies Correct Answer Incorrect Answer
    D By merging with an existing LLP Correct Answer Incorrect Answer
    E By obtaining approval from all creditors Correct Answer Incorrect Answer

    Solution

    Section 55. Conversion from firm into limited liability partnership.—A firm may convert into a limited liability partnership in accordance with the provisions of this Chapter and the Second Schedule.

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