Chief Executive of Producer Company empowered with substantial management powers and accountability to the Board under company law. Section 378W requires a Producer Company to appoint a full time Chief Executive from non members who serves as an ex officio director not subject to retirement by rotation. The Board determines the Chief Executive's qualifications and terms, entrusts substantial management powers, and retains general superintendence. Specified functions include routine administration, bank account operation with Board approval, custody of assets, signing Board authorised documents, maintaining books and audited accounts, informing members, making delegated appointments, advising on strategy and legal matters, and exercising delegated powers while remaining accountable to the Board for company performance.
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.
Chief Executive of Producer Company empowered with substantial management powers and accountability to the Board under company law.
Section 378W requires a Producer Company to appoint a full time Chief Executive from non members who serves as an ex officio director not subject to retirement by rotation. The Board determines the Chief Executive's qualifications and terms, entrusts substantial management powers, and retains general superintendence. Specified functions include routine administration, bank account operation with Board approval, custody of assets, signing Board authorised documents, maintaining books and audited accounts, informing members, making delegated appointments, advising on strategy and legal matters, and exercising delegated powers while remaining accountable to the Board for company performance.
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