The Ministry of Corporate Affairs vide its notification dated 11th February 2021 has published the Producer Companies Rules, 2021 which shall be applicable to all producer company as referred in clause (l) of section 378A.
A Producer Company shall make investments from and out of its general reserves in approved securities, fixed deposits, units and bonds issued by the Central Government or State Governments or co-operative societies or scheduled bank; or in a co-operative bank, State co-operative bank, co-operative land development bank or Central co-operative bank; or with any other scheduled bank; or in any of the securities specified in section 20 of the Indian Trusts Act, 1882.
Further rules 27, 30 and 31 of the Companies (Incorporation) Rules, 2014, including the forms stated therein shall be applied for the purpose of change of place of registered office of a Producer Company from one State to another.
