Section 581R(3) in The Companies (Amendment) Act, 2002
(3)All the powers specified in sub- sections (1) and (2) shall be exercised by the Board, by means of resolution passed at its meeting on behalf of the Producer Company. Explanation.- For the removal of doubts, it is hereby declared that a director or a group of directors, who do not constitute the Board, shall not exercise any of the powers exercisable by it.
