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12. Grants by the Central Government to Corporation.-

The Central Government shall, after due appropriation made by Parliament by law in this behalf, pay to the Corporation-

(a) by way of grant each year, such sum of money as is required by the Corporation for giving subsidies to State Governments and for meeting its administrative expenses;3***

(b) by way of loan, such sum of money on such terms and conditions as the Central Government may determine; 4[and]

4[(c) such additional grants, if any, for the purposes of this Act.]

1. The proviso ins. by Act 45 of 2002, s. 5 (w.e.f. 16-9-2002).

2. Subs. by Act 3 of 1974, s. 9, for section 10 (w.e.f. 7-4-1975).

3. The word "and" omitted by s. 10, ibid. (w.e.f. 1-4-1974).

4. Ins. by s. 10, ibid. (w.e.f. 1-4-1974).

National Co-Operative Development Corporation Act, 1962 Back

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