35Redemption of shares.

(1) Shares held in a multi-State co-operative society by any of the authorities referred to in clauses (c) to (g) of sub-section (1) of section 25 shall be redeemable in accordance with the bye-laws of such multi-State co-operative society and in a case where the byelaws do not contain any provision in this regard, in such manner as may be agreed upon between the multi-State co-operative society and such authority.
(2) The redemption of shares referred to in sub-section (1) shall be on the face value of the shares.