Mobilisation of Funds

Mobilisation of Funds. A Co-operative may subject to the jurisdiction and such conditions as specified in its bye-laws mobilise funds in the form of share capital, deposits, debentures, loans and other contributions from its members and other than deposits from any other financial institutions and organisations. Provided that a Co-operative shall not be eligible to receive any loan, subsidy, grant or financial aid in any form from the Government or any guarantee by the Government. In the Principal Act, in section 38A, after sub- section (4), the following sub-section shall be inserted, namely:- "(5) The Federal Cooperative shall appoint a Special Officer to conduct the elections of the Souharda Cooperative Society as provided under sub-section (6-A) of section 48."