Enforcement of new chapter relating to Producer Companies
MCA notifies commencement of Chapter XXIA and insertion of Rules governing Producer Companies. The brief summary of the amendment is detailed below:
|2||Subject||Producer Companies Rules, 2021.|
|3||Effective date||They shall come into force on the date of their publication in the Official Gazette.|
|4||Applicability||These rules shall apply to a Producer Company as referred in clause (I) of section 378A.|
|5||Brief description||o New rules defines the term ‘co-operative society’ for the purpose of this rule.
o New rule specifies Rules for Change of place of registered office from one State to another of Producer Companies and Investment of general reserves of Producer Companies.