Utilization of Balance Net Profits

After allocations to Reserve Fund and Co-operative Education Fund have been made by a co-operative society from its net profits under Sub-section (1-A) of Section 58, the balance of the net profits may be utilized by it for all or any of the purposes mentioned in Clauses (a), (b), (c) and (d) of Sub-section (2) of that section: Provided that where the Bad Debt Fund is not adequate to meet the estimated bad or Doubtful debts, the balance of the net profits may be utilized as aforesaid only after the necessary amount has been contributed to the Bad Debt Fund to make it sufficient to meet the band and doubtful debts. Explanation- "Bed Debt Fund" shall include "Bad Debt Reserves"