Lawgist61Government aid to multi-State co-operative societies
Notwithstanding anything contained in any law for the time being in force, the Central Government or a State Government, on receipt of request from a multi-State co-operative society and with a view to promoting co-operative movement, may,--
(a) subscribe to the share capital of a multi-State co-operative society;
(b) give loans or make advances to a multi-State co-operative society;
(c) guarantee the repayment of principal and payment of interest on debentures issued by a multiState co-operative society;
(d) guarantee the repayment of share capital of a multi-State co-operative society and dividends thereon at such rates as may be specified by the Central Government or the State Government;
(e) guarantee the repayment of principal and payment of interest on loans and advances to a multi-State co-operative society;
(f) give financial assistance in any other form, including subsidies, to any multi-State co-operative society; and
(g) provide aid to any other multi-State co-operative society on such terms and conditions as may be prescribed.
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- 55 Charge and set-off in respect of share or contribution or interest of members
- 56 Share or contribution or interest not liable to attachment
- 57 Register of Members
- 58 Admissibility of copy of entry as evidence
- 59 Exemption from compulsory registration of instruments
- 60 Deduction from salary to meet multi-State co-operative society’s claim in certain cases
- 61 Government aid to multi-State co-operative societies
