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Section 53: Partnership of Government with apex society

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

(1) An apex society which is provided with moneys by the Government under section 52 shall, with such moneys, establish a fund to be called the "Principal State Partnership Fund".

(2) An apex society shall utilise the Principal State Partnership Fund for the purpose of.-

(a) directly purchasing shares in other registered societies;

(b) providing moneys to a registered society (hereinafter in this chapter referred to as the central society) to enable that society to purchase shares in other registered societies (hereinafter in this chapter referred to as the primary societies);

(c) making payments to the Government in accordance with the provisions of this chapter; and for no other purpose.

Where this provision sits

ActThe Puducherry Co-Operative Societies Act, 1972
Section53
Marginal notePartnership of Government with apex society
JurisdictionUnion territory of Puducherry
StatusIn force as published by the source

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