Formation of Producer Company and its registration.

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..... s of forming a Producer Company having its objects specified in section 581B and otherwise complying with the requirements of this Part and the provisions of this Act in respect of registration, may form an incorporated Company as a Producer Company under this Act. (2) If the Registrar is satisfied that all the requirements of this Act have been complied with in respect of registration and .....

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..... (5) On registration under sub-section (1), the Producer Company shall become a body corporate as if it is a private limited company to which the provisions contained in this Part apply, without, however, any limit to the number of Members thereof, and the Producer Company shall not, under any circumstance whatsoever, become or be deemed to become a public limited company under this Act. - - .....

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