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CMA Intermediate · Business Laws and Ethics · Limited Liability Partnership Act, 2008

An LLP's compromise order was made by the Tribunal under the compromise provisions. Which statement about filing the order is correct?

The LLP must file the Tribunal's order with the Registrar within thirty days after it is made, and the order has effect only after it is so filed. Effect from the date of the order, or a sixty-day period, is incorrect.

  1. AIt must be filed with the Registrar within thirty days and has effect only after it is so filedCorrect
  2. BIt must be filed with the Registrar within sixty days but has effect from the date of the order
  3. CIt need not be filed as the Tribunal's order is effective immediately
  4. DIt must be filed with the Registrar within thirty days but is effective from the date of the order

Explanation

The LLP must file the Tribunal's order with the Registrar within thirty days after making it, and the order takes effect only after it is filed. Options stating immediate effect or a sixty-day period contradict this.

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