Promotion of Cooperative movement by Government

13 A. Promotion of Cooperative movement by Government. –

1. (1) It shall be the duty of the State Government to encourage and promote the Cooperative movement in the State and to take such steps in this direction as may be necessary.
2. (2) Without prejudice to the generality of the provisions contained in sub-section (1), the State Government may –
   • (a) With a view to aid the growth of a registered society in general or of any class of registered societies subscribe directly to the share capital of a registered society;
   • (b) assist indirectly in the formation and augmentation of the share capital of a registered society;
   • (c) give loans of make advances to a registered society or guarantee repayment of principal and payment of interest on debentures issued by a registered society or guarantee repayment of principal and payment of interest on loans or advances to a registered society.