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Section 44: Power of Government to give financial assistance.

The Meghalaya Co-operative Societies Act, 2015 (Act No. 11 of 2015)State Act of Meghalaya · Act 11 of 2015

(1) Notwithstanding anything contained in any law for the time being in force, the State' Government may grant loans, to take share in, guarantee the principal or the interest or both in respect of debentures issued by or give financial assistance in any other form to any registered cooperative society which puts forward a satisfactory scheme for the utilization of the funds so raised.

(2) The State Government may recover or recall from any cooperative society, out of its net profit in any year, all or any part of such financial assistance in event of misutilisation.

Where this provision sits

ActThe Meghalaya Co-operative Societies Act, 2015 (Act No. 11 of 2015)
Section44
Marginal notePower of Government to give financial assistance.
JurisdictionState of Meghalaya
StatusIn force as published by the source

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