Section 581F   [ View Judgements ]

Memorandum of Producer Company.

581F. Memorandum of Producer Company.
    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 58IB;

      (d) the names and addresses of the persons who have subscribed to the memorandum;

      (e) the amount of shares 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 58 U;

      (g) that the liability of its members is limited;

      (h) opposite to the subscriber's name the number of shares each subscriber takes :

      Provided that no subscriber shall take less than one share;

      (i) in case the objects of the Producer Company are not confined to one State, the States to whose territories the objects extend.

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