Section 13: Corporation to maintain fund.

The National Co-operative Development Corporation Act, 1962Central Act · Act 26 of 1962

(1) The Corporation shall maintain a fund called the National Co-operative Development Fund (hereinafter referred to as the Fund) to which shall be credited--

(a) all moneys and other securities transferred to it under clause (a) of sub-section (2) of section 24;

(b) the grants and other sums of money by way of loans paid to the Corporation by the Central Government under section 12;

[(bb) all moneys received under section 12B;

(bbb) all moneys received for services rendered;]

[(ba) all moneys borrowed under section 12A;]

(c) such additional grants, if any, as the Central Government may make to the Corporation for the purposes of this Act; and

(d) such sums of money as may, from time to time, be realised out of repayment of loans made from the Fund or from interest on loans or dividends [or other realisations] on investments made from the Fund.

(2) The moneys in the Fund shall be applied for--

(a) advancing loans and granting subsidies to State Governments on such terms and conditions as the Corporation may deem fit for the purpose of enabling State Governments to subscribe to the share capital of co-operative societies or for otherwise financing co-operative societies;

(b) meetingthe pay and allowances of the [managing director, the officers] and other employees of the Corporation and other administrative expenses of the Corporation; and

[(3) All moneys in the Fund shall be deposited in the Reserve Bank or the State Bank or a nationalised bank or a scheduled bank or a State Co-operative Bank.]

Where this provision sits

Act	The National Co-operative Development Corporation Act, 1962
Section	13
Marginal note	Corporation to maintain fund.
Jurisdiction	Central
Status	In 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. . Ins. by s. 7, ibid. (w.e.f. 14-8-2002).
inserted, Act 3 of 1974. . Ins. by Act 3 of 1974, s. 12(w.e.f. 1-4-1974).
substituted. . Subs. by s. 12, ibid., for "officers" (w.e.f. 1-4-1974).
substituted, Act 45 of 2002. . Subs. by Act 45 of 2002, s. 7, for sub-section (3) (w.e.f. 16-9-2002).

Find the provision, not just read it

The full text above is free, and it stays free. What a free CourtMesh account adds is everything you cannot do by reading one page at a time:

Search 49,000+ Central and State enactments by what a provision says, not by its number
Jump from any section to every judgment that has applied it
Search 300 million+ Indian court records alongside the statute
Ask a research agent to find and read the case law on a provision for you

Free account. No card. About a minute to create.

Create a free account

Need this as data, not as a page? The National Co-operative Development Corporation Act, 1962 is one of 49,000+ enactments on CourtMesh. The Indian court cases API serves the case law that cites these provisions over JSON, with API documentation and plans and pricing. See also the judgment library.