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MCA notifies Section 52 and 66 of companies amendment act, 2020 related to producer companies & rules
February 22, 2021The MCA has notified Section 52 and 66 of the Companies Amendment Act, 2020 with effect from 11 February 2021.
Section 52 provides for a new Chapter XXIA (Sections 378A to 378ZU) in the Companies Act, 2013 related to Producer Companies which were until now governed under the Companies Act 1956. The Producer Companies Rules, 2021 have also been notified with effect from 11 February 2021. Section 66 omits the first proviso to sub-section (1) of 465 which provides that the provisions of Part IXA of the Companies Act, 1956 would apply to a producer company until a special Act is enacted for Producer Companies.
To refer to the gazette notification dated 11 February 2021, click here. To refer to the Producer Companies Rules, 2021, click here.
