Power of Authority to subscribe to the share capital of certain companies or contribute to trusts or societies

The Authority may, with the previous sanction of the State Government and subject to such terms and conditions, as the State Government may, —

1. (i) subscribe to the share capital of any public limited company incorporated under the Companies Act, 2013 or a cooperative society with limited liability registered under the Assam Cooperative Societies Act, 2007;
2. (ii) contribute to the corpus of a trust created under the Indian Trusts Act, 1882 or public trust registered under applicable laws in force in the State of Assam, or a society registered under the Societies Registration Act, 1860 as amended and made applicable to the State of Assam, which are incorporated or registered and promoted by the Authority with the object of providing any services or for performing any functions which are directly or indirectly conducive to the duties and functions of the Authority under this Act or any other law for the time being in force.