Section 53 in Arunachal Pradesh Co-operative Societies Act, 1978
53. Principal State Partnership Fund.
(1)An Apex society which is provided with moneys as aforesaid shall, with such moneys, establish a Fund to be called the "Principal State Partnership Fund".(2)An Apex society shall utilise the Principal State Partnership Fund for the purpose of-(a)directly purchasing shares in other societies with limited liability;(b)providing moneys to a society to enable that society (hereinafter in this Chapter referred to as a "Central Society") to purchase shares in other societies with limited liability (the latter societies being hereinafter in this Chapter referred to as "Primary Societies");(c)making payment to the Central Government in accordance with the provisions of this Chapter;and for no other purpose.
