Multi-State Cooperative Societies Act, 1984
59. Government aid to
multi-State Cooperative Societies.-
Notwithstanding
anything contained in any law for the time being in force, the Central
Government or a State Government may, with a view to promoting cooperative
movement -
a.
subscribe
to the share capital of a multi-State cooperative society;
b.
give
loans or make advances to a multi-State cooperative society;
c.
guarantee
the repayment of principal and payment of interest on debentures issued by a
multi-State cooperative society;
d.
guarantee
the repayment of share capital of a multi-State cooperative society and
dividends thereon at such rates as may be specified by the Central Government
or the State Government;
e.
guarantee
the repayment of principal and payment of interest on loans advances to a
multi-State cooperative society;
f.
give
financial assistance in any other form, including subsides, to any multi-State
cooperative society.