Section 85 in Tamil Nadu Co-operative Societies Rules, 1988
85. Incurring expenditure from the funds of a society on special occasions.
(1)No society shall incur any expenditure for any purpose not directly connected with the management or business of the society:Provided that the society may, with the prior sanction of the Registrar, incur expenditure in connection with any of the following purposes relating to the society, namely:-(a)jubilee celebrations;(b)inaugural functions;(c)laying of foundation stone for buildings;(d)unveiling of portraits; and(e)such other purposes as may be notified by the Government.(2)(a)No expenditure on jubilee celebrations shall exceed twenty-five per cent of the average net profit earned by the society during the three years preceding the year of celebration or of the net profit as disclosed by the latest audited balance sheet, whichever is higher.(b)No expenditure on inaugural function or foundation stone laying ceremony shall exceed one per cent of the cost of the building or project in connection with which the function or ceremony is arranged.(c)The expenditure on inaugural function not connected with building or project shall not exceed one-tenth of one per cent of the working capital or of the business turnover, whichever is higher, of the society at the end of the year preceding the year of function:[Provided that no expenditure under clauses (a), (b) or (c) shall exceed,-(i)rupees twelve thousand five hundred in the case of a primary society;(ii)rupees twenty-five thousand in tire case of a central society; and(iii)[ rupees one lakh fifty thousand in the case of an apex society, unless, the prior sanction of the Registrar is obtained.]Provided further that where expenditure on unveiling of portraits is incurred during jubilee celebrations, such expenditure shall be deemed to be part of the expenditure on jubilee celebration for the purpose of the monetary limit under this sub-rule.(3)No expenditure on unveiling of portraits on any occasion other than jubilee celebrations or on any other purpose notified by the Government shall exceed [per occasion rupees one thousand and five hundred in the case of a primary society, rupees three thousand in the case of a central society and rupees five thousand in the case of an apex society ] [ Substituted by G.O. Ms. No. 91, Co-operation, Food and Consumers Protection, dated the 26th May 1998.]
