 Wednesday, 24 February 2016
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Wednesday, 24 February 2016
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The new idea of producer companies TILL RECENTLY, the Business Act, 1956 (the Act), perceived just three sort of companies, to be specific, organizations constrained by shares (sub-partitioned into open restricted and private constrained companies), companies limited by makes sure and limitless organizations. With the entering into constrain on February 6 of the Companies (Amendment) Act 2002, (1 of 2003), a fourth classification, 'producer organizations,' discovers a place in the Act.
A minimum of ten people, each of them being a producer, that is, any specific inhabited with any movement related to important produce, at least 2 producer organizations, that is, producer business or some other foundation having just producer or producer companies as its people or a mix of at least ten people and producer organizations, can get a producer company combined under the Act.
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