State aid to societies

Notwithstanding anything contained in any law for the time being in force, the Government may: (a) subscribe to the share capital of a society; (b) give loans or make advances to societies; (c) guarantee the repayment of principal and payment of interest on debentures or bonds issued by a society; (d) guarantee the repayment of share capital of a society and dividends thereon at such rates as may be specified by the Government; (e) guarantee the repayment of principal and payment of interest on loans and advances to a society; and (f) give financial assistance in any other form, including subsidies, to any society.