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Section 378ZH: Donation or subscription by Producer Company.

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

[378ZH. Donation or subscription by Producer Company.--A Producer Company may, by special resolution, make donation or subscription to any institution or individual for the purposes of--

(a) promoting the social and economic welfare of Producer Members or producers or general public; or

(b) promoting the mutual assistance principles:

Provided that the aggregate amount of all such donations and subscriptions in any financial year shall not exceed three per cent. of the net profit of the Producer Company in the financial year immediately preceding the financial year in which the donation or subscription was made:

Provided further that no Producer Company shall make directly or indirectly to any political party or for any political purpose to any person any contribution or subscription or make available any facilities including personnel or material.]

Where this provision sits

ActThe Companies Act, 2013
Section378ZH
Marginal noteDonation or subscription by Producer Company.
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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