Section 45(ii) in Amended Bye-Laws of the Pradeshik Co-operative Dairy Federation Limited
(ii)Any surplus remaining after payments mentioned in clause (i) above, shall be applied for contribution to National Defence Fund or to such charitable purposes or local objects of public utility as may be selected by the Board of Directors and approved by the Registrar (Milk Commissioner). If the Board of Directors fail to make any selection of such object that is approved by the Registrar (Milk Commissioner) within the time specified by the Registrar. The latter may use the surplus funds either in contributing the National Defence Fund or to Co-operative Education Fund.
