PRODUCER COMPANIES

Producer Companies

Producer company 581 A (l)

Body corporate having objects or activities specified in S 581 B and registered as Producer Company under this Act

Objects of Producer Company 581 B (1)

Production,

harvesting, procurement, grading, pooling, handling, marketing, selling, export of primary produce, import of goods or services for their benefit Processing preserving, drying, distilling, brewing vinting, canning, packaging of produce Manufacture, sale or supply of machinery, equipment, consumable Providing education to members on mutual

Producer Companies
Rendering

technical services, consultancy services, training and research, activities to promote interests Generation, transmission and distribution of power, revitalization of land and water resources, conservation and communication relatable PP Insurance of producers or their PP Promoting techniques of mutuality and mutual assistance Welfare measures and facilities Activities which are ancillary or incidental to any of the above Financing of procurement, processing, marketing, extending credit facilities to the members etc

Producer Companies

Primary produce 581 A (j)

Produce of farmers arising from agriculture, revegitation, or any other primary activity or service which promotes the interests of the farmers or consumers Produce of persons engaged in handloom, handicraft and other cottage industries Products and byproducts of such products Products resulting from an ancillary activities Any activity which is intended to increase the production of anything or improve the quality thereof

Producer Companies

Producer Institutions 581 A (m)

Producer

company or institution having only producer or producers, producer companies as its member whether incorporated or not to promote the objectives stated in 581 B

Formation of Producer Company and registration

10

or more individuals who are producers or two or more prouder institutions or combination of ten or more individuals and producer institutions forming an incorporated company Filing of application with the Registrar of producer companies Documents : MoA and AoA

Producer Companies

Liability limited liability Producer company shall reimburse the expenditure incurred by the promoters after incorporation On registration, the producer company shall become corporate body It will be a private company It will be never considered as a public company

Membership 581 D (1)

Individual members single vote for every member Producer Institutions based on the participation in the business in the previous year In case of combination single vote for every member Member having conflicting interest shall cease to be a member

Producer Companies

Memorandum of Association 581 F Articles of Association 581 G Amendment of Memorandum 581 H

By special resolution and not consistent with the objectives stated in 581 B Special resolution certified by the two directors filed with the RoC within 30 days Registrar shall record the changes Alteration relating the registered office shall not effect unless permitted by the CLB Proposed by 2/3rd of elected directors or 1/3rd of members Adoption by special resolution Filing with registrar within 30 days

Amendments to Articles