Section 378X — Secretary of Producer Company
(1) Every Producer Company having an average annual
turnover exceeding five crore rupees or such other amount as may be prescribed in each of three consecutive
financial years shall have a whole-time secretary.
(2) No individual shall be appointed as whole -time secretary unless he possesses membership of the
Institute of Company Secretaries of India constituted under the Company Secretaries Act, 1980 (56 of
1980).
(3) If a Producer Company fails to comply with the p rovisions of sub-section (1), the Company and
every officer of the Company who is in default, shall be liable to a penalty of one hundred rupees for every
day during which the default continues subject to a maximum of rupees one lakh:
Related sections
- Section 366 — Companies capable of being registered
- Section 367 — Certificate of registration of existing companies
- Section 368 — Vesting of property on registration
- Section 369 — Saving of existing liabilities
- Section 370 — Continuation of pending legal proceedings
- Section 371 — Effect of registration under this Part
- Section 372 — Power of Court t o stay or restrain proceedings
- Section 373 — Suits stayed on winding up order
- Section 374 — Obligations of companies r egistering under this Part
- Section 375 — Winding up of unregistered companies
- Section 376 — Power to wind up foreign companies, although dissolved
- Section 377 — Provisions of Chapter cumulative
- Section 378 — Saving and construction of enactments conferring power to wind up partnership firm,
- Section 378A — Definitions
- Section 378B — Objects of Producer Company
- Section 378C — Formation of Producer Company and its registration
- Section 378D — Membership and voting rights of Members of Producer Company
- Section 378E — Benefits to Members
- Section 378F — Memorandum of Producer Company
- Section 378G — Articles of association
- Section 378H — Amendment of memorandum
- Section 378J — Option to inter -State co -operative societies to become Producer Companies
- Section 378K — Effect of incorporation of Producer Company
- Section 378L — Vesting of undertaking in Producer Com pany
- Section 378M — Concession etc., to be deemed to have been granted to Producer Company
- Section 378N — Provisions in respect of officers and other employees of inter-State co-operative society
- Section 378P — Appointment of directors
- Section 378Q — Vacation of office by directors
- Section 378R — Powers and functions of Board
- Section 378S — Matters to be transacted at general meeting
- Section 378T — Liability of directors
- Section 378U — Committee of directors
- Section 378W — Chief Executive and his functions
- Section 378Y — Quorum
- Section 378Z — Voting rights