Companies Act Section 378F — Memorandum of Producer Company
CHAPTER XXI
Commercial / Corporate
Summary
The memorandum of association of every Producer Company must state the name of the company, with the words "Producer Company Limited" as the last words of the name.
It must state the State in which the registered office of the Producer Company is to be located.
The main objects of the Producer Company must be one or more of the objects specified in section 378B.
It must state the names and addresses of the persons who have subscribed to the memorandum.
It must state the amount of share capital with which the Producer Company is to be registered, and the division of that capital into shares of a fixed amount.
It must state the names, addresses and occupations of the subscribers who are producers, and who will act as the first directors in accordance with sub-section (2) of section 378J.
It must state that the liability of its members is limited.
Against each subscriber's name, it must state the number of shares that subscriber takes, and no subscriber may take less than one share.
If the objects of the Producer Company are not confined to one State, it must state the States to whose territories the objects extend.
Official Text
The memorandum of association of every Producer Company shall state—
(a) the name of the company with "Producer Company Limited" as the last words of the name of such Company;
(b) the State in which the registered office of the Producer Company is to situate;
(c) the main objects of the Producer Company shall be one or more of the objects specified in section 378B;
(d) the names and addresses of the persons who have subscribed to the memorandum;
(e) the amount of share capital with which the Producer Company is to be registered and division thereof into shares of a fixed amount;
(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;
(g) that the liability of its members is limited;
(h) against the subscriber's name, the number of shares each subscriber takes:
Provided that no subscriber shall take less than one share;
(i) that in case the objects of the Producer Company are not confined to one State, the States to whose territories the objects extend.