section 45
Principal Government Partnership Fund.
The Jammu and Kashmir Co-operative Societies Act, 1989Corporate1989184 sections
Statutory text
- (1) An apex society which is provided with money by the Government under section 44 shall, with such moneys, establish a fund to be called the “Principal Government Partnership Fund”.
- (2) An apex society shall utilize the ‘Principal Government Partnership Fund’ for the purpose of—
- (a) directly purchasing shares in other co-operative societies with limited liability ;
- (b) providing money to a co-operative society (hereinafter in this chapter referred to as central society) to enable that society to purchase shares in other co-operative societies with limited liability (hereinafter in this chapter referred to as primary societies) ;
- (c) making payments to the Government in accordance with the provisions of this Chapter ; and for no other purpose.
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