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Section 378Z-I: General and other reserves.

The Companies Act, 2013Central Act · Act 18 of 2013

[378Z-I. General and other reserves.--(1) Every Producer Company shall maintain a general reserve in every financial year, in addition to any reserve maintained by it as may be specified in articles.

(2) In a case where the Producer Company does not have sufficient funds in any financial year for transfer to maintain the reserves as may be specified in articles, the contribution to the reserve shall be shared amongst the Members in proportion to their patronage in the business of that Company in that year.]

Where this provision sits

ActThe Companies Act, 2013
Section378Z-I
Marginal noteGeneral and other reserves.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • inserted, Act 29 of 2020. . Ins. by Act 29 of 2020, s. 52 (w.e.f. 11-2-2021).

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