Section 42: Financing bank not to have a claim on certain sums of money

The Puducherry Co-Operative Societies Act, 1972Union territory Act of Puducherry · Act 7 of 1973

No financing bank shall have a charge upon or be entitled to set off towards any debt due from a registered society -

(i) any sum invested by a registered society with it out of the reserve fund; or

(ii) any sum invested with it by such society out of the provident fund established under section 72 or the gratuity established under section 73.

Where this provision sits

Act	The Puducherry Co-Operative Societies Act, 1972
Section	42
Marginal note	Financing bank not to have a claim on certain sums of money
Jurisdiction	Union territory of Puducherry
Status	In force as published by the source

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