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:

1 Rule date 11.02.2021
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.

Please also find attached notification herewith for your ready reference.