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9. Functions of Corporation.-

6[(1) Subject to the provisions of this Act, the functions of the Corporation shall be to 7[plan, promote and finance]programmes, through co-operative societies, for-

(a) the production, processing, marketing, storage, export and import of agricultural produce, foodstuffs, poultry feed and notified commodities;

(b) the collection, processing, marketing, storage and export of minor forest produce;]

8[(c)development of notified services.]

(2) In particular and without prejudice to the generality of the foregoing provision, the Corporation may-

(a) advance loans or grant subsidies to State Governments for financing co-operative societies and for employment of staff for implementing programmes of co-operative development;

(b) provide funds to State Governments for financing co-operative societies for the purchase of 9[agricultural produce, foodstuffs] 10[livestock, poultry feed, industrial goods, notified commodities and notified services] on behalf of the Central Government;

(c) plan and promote programmes through co-operative societies for the supply of seeds, manures, fertilizers, agricultural implements and other articles for the development of agricultural produce;

11[(d) provide loans and grants directly to the national level co-operative societies and other co-operative societies having objects extending beyond one State;

(e) provide loans to co-operative societies on the guarantee of State Governments or in the case of co-operative societies in the Union territories, on the guarantee of Central Government:

1[Providedthat no such guarantee shall be required in cases in which security to thesatisfaction of the Corporation is furnished by the borrowing co-operativesociety;]

(f) participate in the share capital of the national level co-operative societies and other co-operative societies having objects extending beyond one State.]

(3) The Corporation shall so exercise its functions under this section as not to interfere with the activities of the Khadi and Village Industries Commission established under the Khadi and Village Industries Commission Act, 1956 (61 of 1956).

1. Subs. by Act 3 of 1974, s. 6, for "Chairman" (w.e.f. 7-4-1975).

2. Subs. by s. 6, ibid., for "Vice-Chairman" (w.e.f. 7-4-1975).

3. Subs. by s. 7, ibid., for "Secretary of the Corporation" (w.e.f. 1-4-1974).

4. Subs. by s. 7, ibid., for "Secretary" (w.e.f. 1-4-1974).

5. Ins. by s. 7, ibid. (w.e.f. 7-4-1975).

6. Subs. by s. 8, ibid., for sub-section (1) (w.e.f. 1-4-1974).

7. Subs. by Act 45 of 2002, s. 5, for "plan and promote" (w.e.f. 16-9-2002).

8. Ins. by s. 5, ibid. (w.e.f. 16-9-2002).

9. Subs. by Act 3 of 1974, s. 8, for "agricultural produce" (w.e.f. 1-4-1974).

10. Subs. by Act 45 of 2002, s. 5, for "and notified commodities" (w.e.f. 16-9-2002).

11. Ins. by Act 3 of 1974, s. 8. (w.e.f. 1-4-1974).



National Co-Operative Development Corporation Act, 1962 Back




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