Section 69(3) in Himachal Pradesh Co-Operative Societies Rules, 1971
(3)No part of the Education Fund so administered by the State Cooperative Development Federation or the authorised agency shall be utilised till the permission of the Registrar is obtained, or regulations approved by him.The rule provides for the constitution of a Co-operative Education Fund' which shall be administered by the Himachal Pradesh State Cooperative Development Federation or by any other agency in the absence of the former. The contribution to the fund shall be made by every registered society at the rate of Rs. 100/- or 3% of the net profits derived from the working in a given year subject to a maximum of Rs. 15 lakhs. The rule read with Section No. 54 of the Act, imposes a statutory obligation on every society for making contribution to this Fund.Any society desirous of contributing more than the maximum of 3% of profits may do so with the prior permission of the Registrar but this shall not in any way exceed 5% of the net profits of the year.
