section 55
Other forms of Government aid to Co-operative societies.
The Jammu and Kashmir Co-operative Societies Act, 1989Corporate1989184 sections
Statutory text
Notwithstanding anything contained in any law for the time being in force the Government may,
- (a) give loans or make advances to co-operative societies ;
- (b) guarantee the repayment of principal and payment of interest on debentures issued by a co-operative society ;
- (c) guarantee the repayment of share capital of a co-operative society and dividends thereon at such rates as may be specified by the Government ;
- (d) guarantee the repayment of principal and payment of interest on loans and advances to a co-operative society ; and
- (e) give financial assistance in any other form including subsidies, to any co-operative society.
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