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Section 43: Direct partnership of Government in Co-operative Societies

The Jammu and Kashmir Co-Operative Societies Act, 1989Union territory Act of Jammu and Kashmir · Act 10 of 1989

(1) The Government may subscribe directly to the share capital of co-operative society with limited liability.

(2) Notwithstanding any agreement to the contrary, the Government shall not be entitled to a dividend on the shares of any such co-operative society at a rate higher than that at which such dividend is payable to any other shareholder of the society.

[(3) Notwithstanding anything contained in sub-section (1), the share capital contribution by the Government in case of a Co-operative Credit Structure Society shall not exceed twenty five percent of the share capital and the Government or such Society may reduce the Government's subscription further at its choice.]

Where this provision sits

ActThe Jammu and Kashmir Co-Operative Societies Act, 1989
Section43
Marginal noteDirect partnership of Government in Co-operative Societies
JurisdictionUnion territory of Jammu and Kashmir
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • inserted, Act No. X of 2010. Sub-section (3) to section 43 inserted by Act No. X of 2010, s.15.

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