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.