Section 40 in The Punjab Co-operative Societies Act, 1961
40. Other forms of State aid to Co-operative Societies.
- Notwithstanding anything contained in any law for the time being in force the Government may-(a)subscribe to the share capital of a co-operative society;(b)give loans or make advances to co-operative society;(c)guarantee the repayment of principal and payment of interest on debentures issued by a co-operative society;(d)guarantee the repayment of share capital of a co-operative society and dividends thereon at such rates as may be specified by the Government;(e)guarantee the repayment of principal and payment of interest on loans and advances to a co-operative society; and(f)give financial assistance in any other form, including subsidies to any co-operative society.
