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61. Government aid to multi-State co-operative societies.

Notwithstanding anything contained in any law for the time being in force, the Central Government or a State Government, on receipt of request from a multi-State co-operative society and with a view to promoting co-operative movement, may,

(a) subscribe to the share capital of a multi-State co-operative society;

(b) give loans or make advances to a multi-State co-operative society;

(c) guarantee the repayment of principal and payment of interest on debentures issued by a multi- State co-operative society;

(d) guarantee the repayment of share capital of a multi-State co-operative 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 and advances to amulti-State co-operative society;

(f) give financial assistance in any other form, including subsidies, to any multi-State co-operativesociety; and

(g) provide aid to any other multi-State co-operative society on such terms and conditions as may be prescribed.



Multi-State Co-operative Societies Act, 2002 Back




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