THE FOOD CORPORATIONS ACT, 1964

ACT NO. 37 OF 1964 · Enacted [10th December, 1964.] · 47 sections

PRELIMINARY

Section 1.Short title, extent and commencement.

Section 2.Definitions.

THE FOOD CORPORATION OF INDIA

Section 3.Establishment of Food Corporation of India.

Section 4.Offices and agencies.

Section 5.Capital of Corporation.

Section 6.Management.

Section 7.Board of directors.

Section 8.Disqualification for office of director.

Section 9.Removal and resignation of directors.

Section 10.Meetings.

Section 11.Advisory Committees.

Section 12.Officers and other employees of Corporation.

Section 12A.Special provisions for transfer of Government employees to the Corporation in certain cases.

Section 13.Functions of Corporation.

Section 14.Executive Committee and other commodities.

Section 15.Member of board or committee thereof not to vote in certain cases.

BOARDS OF MANAGEMENT

Section 16.Boards of Management, their constitution and functions.

STATE FOOD CORPORATIONS

Section 17.Establishment of State Food Corporation.

Section 18.Capital of State Food Corporation.

Section 19.Management of State Food Corporation.

Section 20.Disqualification for office of member of board of directors.

Section 21.Removal and resignation of members of board of directors.

Section 22.Meetings.

Section 23.Appointment of officers, etc. and their conditions of service.

Section 24.Executive Committee and other committees.

Section 25.Member of board or committee thereof not to vote in certain cases.

FINANCE, ACCOUNTS AND AUDIT

Section 26.Submission of programme of activities and financial estimates.

Section 27.Borrowing powers of Food Corporation.

Section 28.Lending by Food Corporation on security of foodgrains.

Section 29.Power to enter into agreement for purchase of foodgrains after harvest.

Section 30.Guarantee by Food Corporation.

Section 31.Funds of Food Corporation.

Section 32.Investment of funds.

Section 33.Allocation of surplus profits.

Section 34.Accounts and audit.

Section 35.Annual report on the working of Food Corporations.

MISCELLANEOUS

Section 36.Vacancies, etc., not to invalidate acts or proceedings of Food Corporation, etc.

Section 37.Delegation.

Section 38.Declaration of fidelity and secrecy.

Section 39.Indemnity of directors.

Section 40.Protection of action taken under this Act.

Section 41.Offences.

Section 42.Provision relating to income-tax, super-tax, etc.

Section 43.Winding up of Food Corporation.

Section 44.Power to make rules.

Section 45.Power of Food Corporation to make regulations.

Section 46.Validation.