Section 59 in The Assam Co-operative Societies Rules, 1953
59. Contribution to charitable purposes.
(1)Co-operative Development fund. - After the proportion required by sub-rule (1) of Rule 56 above has been carried to the reserve fund from the profits of the year every not exceeding 6 ¼ per cent of the year's net profits for for co-operative education and for such other purposes as prescribed herein, to be credited to a fund to be called "The Co-operative Development Fund" (hereinafter referred to as the Fund):Provided that if the net profit of any year of a society do not exceed Rs. 200, the society shall not be required to contribute anything towards Co-operative Development Fund for that year.(2)(i)The fund shall be administered by a committee appointed by the State Government composed of-(a)the Registrar (ex-office);(b)the Deputy Registrar of Co-operative Societies (ex-officio);(c)an Economist;(d)a representative of rural credit societies ;(e)a representative of trading and consumer societies ;(f)a representative of other types of societies ; and(g)one member of the State Legislative Assembly.One or two other members connected with the co-operative movement likely to be helpful may be co-opened, if necessary.(ii)The Registrar shall be the Chairman with the Deputy Registrar of Co-operative Societies as the Secretary and Treasurer of the Committee. The Registrar shall frame rules for the detailed procedure of working and disposal of the fund.(3)Every co-operative society shall at the close of each co-operative year after consideration of the audited balance sheet in the general assembly, make such contribution to the fund as may be approved by the general assembly.(4)All sums so contributed shall forthwith be sent by the respective societies to the Apex Bank or to such other banks as the Registrar may direct.(5)The fund may be utilised for any one of the following purposes, namely :(a)the education of members of co-operative societies in co-operative principles and practice; or(b)the development of new types of co-operative societies; or(c)the improvement of co-operative societies in general.
