Producer company donations limited by corporate resolution to a capped share of prior-year profits, with political contributions barred. A Producer Company may, by special resolution, make donations or subscriptions to institutions or individuals to promote social and economic welfare of Producer Members or producers generally, or to promote mutual assistance principles, subject to an aggregate limit of three per cent of the net profit in the immediately preceding financial year. No Producer Company shall directly or indirectly contribute to any political party or for any political purpose, or provide contributions, subscriptions, facilities, personnel or material for political ends.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Producer company donations limited by corporate resolution to a capped share of prior-year profits, with political contributions barred.
A Producer Company may, by special resolution, make donations or subscriptions to institutions or individuals to promote social and economic welfare of Producer Members or producers generally, or to promote mutual assistance principles, subject to an aggregate limit of three per cent of the net profit in the immediately preceding financial year. No Producer Company shall directly or indirectly contribute to any political party or for any political purpose, or provide contributions, subscriptions, facilities, personnel or material for political ends.
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