Companies Act, 1956
Section - 581P - Appointment of directors
Appointment of directors.581P.(1) Save as provided in , the Members who sign the memo- randum and the articles may designate therein the Board of directors (not less than five) who shall govern the affairs of the Producer Company until the directors are elected in accordance with the provisions of this section.(2) The election of directors shall be conducted within a period of ninety days of the registration of the Producer Company :Provided that in the case of an inter-State co-operative society which has been registered as a Producer Company under sub-section (4) of in which at least five directors (including the directors continuing in office under sub-section (1) of ) hold office as such on the date of registration of such company, the provisions of this sub-section shall have effect as if for the words "ninety days", the words "three hundred and sixty-five days" had been substituted.(3) Every person shall hold office of a director for a period not less than one year but not exceeding five years as may be specified in the articles.(4) Every di .... To read the full section download the app from Google Play store
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