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Multi-State Cooperative Societies Act, 1984


59. Government aid to multi-State Cooperative Societies.-

Notwithstanding anything contained in any law for the time being in force, the Central Government or a State Government may, with a view to promoting cooperative movement -

a.     subscribe to the share capital of a multi-State cooperative society;

b.    give loans or make advances to a multi-State cooperative society;

c.     guarantee the repayment of principal and payment of interest on debentures issued by a multi-State cooperative society;

d.    guarantee the repayment of share capital of a multi-State cooperative society and dividends thereon at such rates as may be specified by the Central Government or the State Government;

e.     guarantee the repayment of principal and payment of interest on loans advances to a multi-State cooperative society;

f.     give financial assistance in any other form, including subsides, to any multi-State cooperative society.



Multi-State Cooperative Societies Act, 1984 Back




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