Section 81(3) in Karnataka Co-Operative Societies Act, 1959
(3)The State Government may, after consulting the Board and the Trustee,-(a)by notification in the official Gazette; and(b)by notice of not less than fourteen days in such of the principal newspapers in the State and of other States in India as the State Government may select in this behalf;discontinue any guarantee given by it or restrict the maximum amount thereof or modify the conditions, subject to which it is given, with effect from a specified date, not being earlier than six months from the date of publication of the notification in the official Gazette:Provided that the withdrawal, restriction or modification of any guarantee under this sub-section, shall not in any way affect the guarantee carried by any debentures issued prior to the date on which such withdrawal, restriction or modification takes effect.
