GIST OF COMLIANCES BY A PRODUCER COMPANY

• Name of Company shall include “Producer Company Limited” as the last words of the name of such Company.
• Every Producer Company shall have at least five and not more than fifteen directors.
• Every Producer Company shall have a full time Chief Executive, by whatever name called, to be appointed by the Board from amongst persons other than Members.
• A Producer Company shall hold its first annual general meeting within a period of ninety days from the date of its incorporation
• A general meeting of the Producer Company shall be called by giving not less than fourteen days prior notice in writing.
• The share capital of a Producer Company shall consist of equity shares only and shall be held by members only.
• Every Producer Company having an average annual turnover exceeding five crore rupees in each of three consecutive financial years shall have a whole-time secretary.