Section 43(2) in The Maharashtra Co-Operative Societies Act, 1960
(2)[ If in the opinion of the Registrar it is necessary so to do for ensuring safety of the funds obtained under sub-section (1), for proper utilisation of such funds in furtherance of the objects of the society or societies concerned and for keeping them within the borrowing limits as laid down in the rules and by-laws, the Registrar may, by general or special order, impose additional conditions on any society or class of societies, subject to which and the extent up to which such society or such class or societies may receive deposits, issue debentures or raise loans from any creditor other than a Central Bank:] [Section 43 was renumbered as sub-section (1) and sub-section (2) was added by Maharashtra 33 of 1963, Section 8.][Provided that, nothing in this sub-section shall apply to a society which has not taken any financial assistance from the Government in the form of share capital, loan [subsidy] [This proviso was added by Maharashtra 34 of 2001, (w.e.f. 7-9-2001) Section 4.] or guarantee and such society may, adopt its own borrowing policy having regard to its financial position. However, such society shall send to the Registrar, in writing, full details about its borrowing policy, and change, if any introduced in such policy at any time:][Provided further that, nothing in this sub-section shall apply to the co-operative credit structure entity. However, such entity may adopt its own policy in conformity with [guidelines of the Reserve Bank of India or the National Bank] [This proviso was added by Maharashtra Order 7 of 2007, Section 8(b) (w.e.f. 29-10-2007).]].
