(1) An apex society, which is provided with moneys by the Government under clause (b) of sub-section (1) of section 44 shall, with such moneys, establish a fund to be called the 'Principal State Partnership Fund' and shall utilise it for the purpose of -
(a) directly purchasing shares in other co-operative societies;
(b) providing moneys to a central co-operative society to enable that society to purchase shares in primary co-operative societies;
(c) making payment to the Government in accordance with the provisions of this chapter;
and for no other purpose.
(2) A central society, which is provided with moneys by an apex society from the Principal State Partnership Fund under clause (b) of sub section (1) shall with such moneys, establish a fund to be called the 'Subsidiary State Partnership Fund' and utilise it for the purpose of -
(a) purchasing shares in primary societies;
(b) making payments to the apex society in accordance with the provisions of this chapter;
and for no other purpose :
Provided that any amount to the credit of either principal or subsidiary state partnership funds shall not form part of the assets of an apex or a central society respectively and in the event of such societies being wound up, all moneys to the credit of or payable to the Principal State Partnership Fund shall be credited to the Government, whereas moneys to the credit of or payable to the Subsidiary State Partnership Fund shall be credited to the Principal State Partnership Fund.