Section 378F Memorandum of Producer Company
- Chapter
- XXIA · Producer Companies
- Amendments
- 1
Inserted by Companies (Amendment) Act, 2020, s. 52, with effect from 11 February 2021378F. Memorandum of Producer Company.—
Inserted by Companies (Amendment) Act, 2020, s. 52, with effect from 11 February 2021The memorandum of association of every Producer Company shall state—
Inserted by Companies (Amendment) Act, 2020, s. 52, with effect from 11 February 2021(a) the name of the company with "Producer Company Limited" as the last words of the name of such Company;
Inserted by Companies (Amendment) Act, 2020, s. 52, with effect from 11 February 2021(b) the State in which the registered office of the Producer Company is to situate;
Inserted by Companies (Amendment) Act, 2020, s. 52, with effect from 11 February 2021(c) the main objects of the Producer Company shall be one or more of the objects specified in section 378B;
Inserted by Companies (Amendment) Act, 2020, s. 52, with effect from 11 February 2021(d) the names and addresses of the persons who have subscribed to the memorandum;
Inserted by Companies (Amendment) Act, 2020, s. 52, with effect from 11 February 2021(e) the amount of share capital with which the Producer Company is to be registered and division thereof into shares of a fixed amount;
Inserted by Companies (Amendment) Act, 2020, s. 52, with effect from 11 February 2021(f) the names, addresses and occupations of the subscribers being producers, who shall act as the first directors in accordance with sub-section (2) of section 378J;
Inserted by Companies (Amendment) Act, 2020, s. 52, with effect from 11 February 2021(g) that the liability of its members is limited;
Inserted by Companies (Amendment) Act, 2020, s. 52, with effect from 11 February 2021(h) against the subscriber's name, the number of shares each subscriber takes:
Inserted by Companies (Amendment) Act, 2020, s. 52, with effect from 11 February 2021Provided that no subscriber shall take less than one share;
Inserted by Companies (Amendment) Act, 2020, s. 52, with effect from 11 February 2021(i) that in case the objects of the Producer Company are not confined to one State, the States to whose territories the objects extend.