Direct partnership of State Government in societies.

Direct partnership of State Government in societies. (1) The State Government may subscribe directly to the share capital of a society with Limited liability:

Provided that in the case of societies in the co-operative credit structure, the State Government shall not subscribe for more than twenty-five per cent, of the total share capital and the State Government or the society shall have the option to reduce the share capital contributed by the State Government.

(2) The share capital subscribed by the State Government under sub-section (1) shall not be returned to the State Government by a society except with the previous sanction of the Government.