Any co-operative society may, with the sanction of the Registrar, after one-fourth of the net profits in any year has been carried to a reserve fund, contribute an amount not exceeding five percent of the remaining net profits to any purpose connected with the development of cooperative movement or charitable purpose as defined in section 20 of the Charitable Endowments Act, 1890. (6 of 1890).
Section 42: Contribution to charitable purpose
Andaman and Nicobar Islands Cooperative Socities Regulation 1973Union territory Act of Andaman and Nicobar Islands · Act 3 of 1973
Where this provision sits
| Act | Andaman and Nicobar Islands Cooperative Socities Regulation 1973 |
|---|---|
| Section | 42 |
| Marginal note | Contribution to charitable purpose |
| Jurisdiction | Union territory of Andaman and Nicobar Islands |
| Status | In force as published by the source |
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