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[Cites 0, Cited by 0] [Section 581R] [Entire Act]

Union of India - Subsection

Section 581R(2) in The Companies Act, 1956

(2)In particular and without prejudice to the generality of the foregoing powers, such powers may include all or any of the following matters, namely:-
(a)determination of the dividend payable;
(b)determination of the quantum of withheld price and recommend patronage to be approved at general meeting;
(c)admission of new Members;
(d)pursue and formulate the organisational policy, objectives, establish specific long-term and annual objectives and approve corporate strategies and financial plans;
(e)appointment of a Chief Executive and such other officers of the Producer Company, as may be specified in the articles;
(f)exercise superintendence, direction and control over Chief Executive and other officers appointed by it;
(g)cause proper books of account to be maintained; prepare annual accounts to be placed before the annual general meeting with the auditor's report and the replies on qualifications, if any, made by the auditors;
(h)acquisition or disposal of property of the Producer Company in its ordinary course of business;
(i)investment of the funds of the Producer Company in the ordinary course of its business;
(j)sanction any loan or advance, in connection with the business activities of the Producer Company to any Member, not being a Director or his relative;
(k)take such other measures or do such other acts as may be required in the discharge of its functions or exercise of its powers.