Section 58 in Sikkim Co-Operative Societies Act, 1978
58. Contribution to charitable purpose.
- A society may, with the sanction of the Registrar and after one-fourth of the net profits of the year has been transferred to the reserve fund, contribute an amount not exceeding five per cent 'of the remaining net profits to any purpose connected with the development of co-operative movement or charitable purpose as defined in section 20 of the charitable Endowments Act, 1890 (6 of 1890).
