Section 4(1) in Uttarakhand Self Reliant Co-Operatives Act, 2003
(1)Notwithstanding anything in the Uttarakhand cooperative Societies Act, 2003, a co-operative society registered under the Co-operative Societies Act, 2003, may opt for registration under this Act through a special resolution of the general body :Provided that where the cooperative society is in receipt of share capital from the government, it shall undertake, in writing, to retire such share capital within 5 years from the date of registration, at the rate of not less that 15% per annum, of the total equity of the government on the date of conversion.
