Companies Act, 2013

Section - 378W - Chief Executive and his functions

Chief Executive and his functions.

378W. (1) Every Producer Company shall have a full time Chief Executive, by whatever name called, to be appointed by the Board from amongst persons other than Members.

(2) The Chief Executive shall be ex officio director of the Board and such director shall not retire by rotation.

(3) Save as otherwise provided in articles, the qualifications, experience and the terms and conditions of service of the Chief Executive shall be such as may be determined by the Board.

(4) The Chief Executive shall be entrusted with substantial powers of management as the Board may determine.

(5) Without prejudice to the generality of sub-section (4), the Chief Executive may exercise the powers and discharge the functions, namely:-

(a)-do administrative acts of a routine nature including managing the day-to-day affairs of the Producer Company;
(b)-operate bank accounts or authorise any person, subject to the general or special approval of the Board in this behalf, to operate the bank account;
(c)-Google Play store

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