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:

1Rule date11.02.2021
2SubjectProducer Companies Rules, 2021.
3Effective dateThey shall come into force on the date of their publication in the Official Gazette.
4ApplicabilityThese rules shall apply to a Producer Company as referred in clause (I) of section 378A.

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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.

Notification is attached here with for your ready reference & reading.