[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS

NOTIFICATION

New Delhi, the I' February, 2021

G.S.R. ..... (E)--In exercise of the powers conferred by sub-section (4) of section 378H

and sub-section (1) of section 378ZL read with sub-sections (1) and (2) of section 469

of the Companies Act, 2013 (18 of 2013), and in supersession of the Producer

Companies (General Reserve) Rules, 2003, except as respects things done or omitted

to be done before such supersession, the Central Government hereby makes the

following rules, namely:-

1. Short title and commencement.- (1) These rules may be called the Producer

Companies Rules, 2021.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. Applicability.- These rules shall apply to a Producer Company as referred in clause

(I) of section 378A.

3. Definitions.- (1) In these rules, unless the context otherwise requires,-

(a) "Act" means the Companies Act, 2013 (18 of 2013);

(b) "section" means the section of the Act;

(c) "co-operative society" means a society registered or deemed to be registered under

any law relating to co-operative societies for the time being in force in any State.

(2) Words and expressions used in these rules but not defined and defined in the Act

or in the Companies (Specification of Definitions Details) Rules, 2014, shall have the

same meanings respectively assigned to them in the Act or in the said rules.

4. Change of place of registered office from one State to another.- The rules 27,

30 and 31 of the Companies (Incorporation) Rules, 2014, including the forms stated

therein shall be applied for the purpose of change of place of registered office of a

Producer Company from one State to another.

5. Investment of general reserves.- A Producer Company shall make investments

from and out of its general reserves in anyone or in combination of the following,

namely:--

(a) in approved securities, fixed deposits, units and bonds issued by the Central

Government or State Governments or co-operative societies or scheduled bank; or

(b) in a co-operative bank, State co-operative bank, co-operative land development

bank or Central co-operative bank; or

(c) with any other scheduled bank; or

(d) in any of the securities specified in section 20 of the Indian Trusts Act, 1882 (02

of 1882); or

(e) in the shares or securities of any other inter-State co-operative society or any

co-operative society; or

(f) in the shares, securities or assets of public financial institutions specified under

clause (72) of section 2 of the Act.

[File No.5 ~/~20-CL.~

(K.v.~2.\

Joint Secretary to the Government of India

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