Mera Samvidhaan All of Companies Act, 2013

Chapter XXIA · Producer Companies

378Z-IGeneral and other reserves.

Section 378Z-I · Chapter XXIA · Part VI · page 216 of the Act

(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.

Other provisions that mention Section 378Z-I

Section 378Z-I of The Companies Act, 2013 is reproduced in full above, as printed by India Code, with its footnotes and amendment markers. Read the whole Act, or browse every Act on Mera Samvidhaan.