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The Food Corporations Act, 1964

Central

An Act to provide for the establishment of Food Corporations for the purpose of trading in foodgrains and other foodstuffs and for matters connected therewith and incidental thereto.

Act number
37 of 1964
Ministry
Ministry of Consumer Affairs, Food and Public Distribution
Department
Department of Food and Public Distribution
Enacted
10 Dec 1964

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

47 sections

  1. Section 1Short title, extent and commencement.
  2. Section 2Definitions.
  3. Section 3Establishment of Food Corporation of India.
  4. Section 4Offices and agencies.
  5. Section 5Capital of Corporation.
  6. Section 6Management.
  7. Section 7Board of directors.
  8. Section 8Disqualification for office of director.
  9. Section 9Removal and resignation of directors.
  10. Section 10Meetings.
  11. Section 11Advisory Committees.
  12. Section 12Officers and other employees of Corporation.
  13. Section 12ASpecial provisions for transfer of Government employees to the Corporation in certain cases.
  14. Section 13Functions of Corporation.
  15. Section 14Executive Committee and other commodities.
  16. Section 15Member of board or committee thereof not to vote in certain cases.
  17. Section 16Boards of Management, their constitution and functions.
  18. Section 17Establishment of State Food Corporation.
  19. Section 18Capital of State Food Corporation.
  20. Section 19Management of State Food Corporation.
  21. Section 20Disqualification for office of member of board of directors.
  22. Section 21Removal and resignation of members of board of directors.
  23. Section 22Meetings.
  24. Section 23Appointment of officers, etc. and their conditions of service.
  25. Section 24Executive Committee and other committees.
  26. Section 25Member of board or committee thereof not to vote in certain cases.
  27. Section 26Submission of programme of activities and financial estimates.
  28. Section 27Borrowing powers of Food Corporation.
  29. Section 28Lending by Food Corporation on security of foodgrains.
  30. Section 29Power to enter into agreement for purchase of foodgrains after harvest.
  31. Section 30Guarantee by Food Corporation.
  32. Section 31Funds of Food Corporation.
  33. Section 32Investment of funds.
  34. Section 33Allocation of surplus profits.
  35. Section 34Accounts and audit.
  36. Section 35Annual report on the working of Food Corporations.
  37. Section 36Vacancies, etc., not to invalidate acts or proceedings of Food Corporation, etc.
  38. Section 37Delegation.
  39. Section 38Declaration of fidelity and secrecy.
  40. Section 39Indemnity of directors.
  41. Section 40Protection of action taken under this Act.
  42. Section 41Offences.
  43. Section 42Provision relating to income-tax, super-tax, etc.
  44. Section 43Winding up of Food Corporation.
  45. Section 44Power to make rules.
  46. Section 45Power of Food Corporation to make regulations.
  47. Section 46Validation.