Section 43(2) in The M.P. Co-Operative Societies Act, 1960
(2)A society shall, out of its net profits in any year-(a)transfer an amount not being less than twenty-five per cent of such profits to the reserve funds unless such society has been, by general or special order, partially or wholly exempted in this behalf by the Registrar; and(b)pay to the Madhya Pradesh Co-operative Union Ltd. and to such other institutions or unions as may be specified by the Registrar in this behalf, such contribution as may be prescribed.(c)[ transfer at least twenty per cent to an equity redemption fund by such societies which have Government equity participation.] [Inserted by M.P. Act No. 12 of 1994 [w.e.f. 8-5-1994].]
