(1) Where the State Government has—
(a) subscribed to the share capital of a co-operative society, or
(b) assisted indirectly in the formation or augmentation of the share capital of such society, or
(c) guaranteed the principal and interest in respect of debentures issued by such society, or
(d) guaranteed the principal and interest in respect of loans and advances to such society, or
(e) assisted such society with loans or grants from out of its own funds, the State Government, or any authority specified by the State Government in this behalf, shall have the right to nominate on the managing committee of such society not more than three members or one-third of the total number of elected members of such committee, whichever is less.
(2) The State Government may, by notification in the Official Gazette stating reasons therefor, provide for reservation of not more than onefourth of seats on the managing committee of a co-operative society for such community, class or group of persons, which, in the opinion of the State Government, are socially, economically or educationally backward.
(3) The State Government may, by rules, provide for the manner in which such reserved seats are to be filled up.
176 The West Bengal Co-operative Societies Act, 1973.
XXXVIII of 1973.]
(Chapter IV.—Duties and obligations of co-operative societies.—Sections 29, 30.)
CHAPTER IV DUTIES AND OBLIGATIONS OF CO-OPERATIVE SOCIETIES