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Section 59

The Arunachal Pradesh Cooperative Societies ActState Act of Arunachal Pradesh · Act 3 of 1979

(1) All moneys received by anApex Society in respect of share of other societies purchased from the moneys in Principal State Partnership Fund on redemption of such shares or by way of dividends or otherwise, shall be credited to that fund.

(2) All moneys received by a Central Society in respect of shares of Primary Societies purchased from the moneys in the Subsidiary State Partnership Fund on redemption of such shares or by way of dividends or otherwise shall in the first instance be credited to that Fund and then transferred to the Apex Society which shall credit them to the Principal State Partnership Fund.

(3) All moneys and dividends referred to in sub-sections (1) and (2) shall, notwithstanding that the shares stand in the name of the Apex Society, or the Central Society as the case may be, paid to the Central Government.

(4) Same as provided in sub-section (3), the Central Government shall not be entitled to any other return on the moneys provided by it to an Apex Society under Section 52.

Where this provision sits

ActThe Arunachal Pradesh Cooperative Societies Act
Section59
JurisdictionState of Arunachal Pradesh
StatusIn force as published by the source

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