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Union of India - Section

Section 25 in The Multi-State Co-Operative Societies Rules, 2002

25. Contribution towards Co-operative Education Fund.

(1)Every multi-State co-operative society shall credit a sum calculated at one per cent. of its net profits every year as contribution to the co-operative education fund maintained by the National Co-operative Union of India Limited, New Delhi. The co-operative education fund shall be administered by a committee constituted by the Central Government for this purpose consisting of the following members:-
(i) The Presidentof the National Co-operative Union of India Ltd., New Delhi —Chairperson
(ii) The CentralRegistrar —Member
(iii)The FinancialAdviser to the Department of Agriculture and Co-operation in theMinistry of Agriculture —Member
(iv) Tworepresentatives of the multi-State co-operative societies to benominated by the Central Government for every two years —Members
(v) The DirectorGeneral, National Council for Co-operative Training, New Delhi —Member
(vi) The Director,Vaikunth Mehta National Institute of Co-operative Management,Pune. —Member
(2)No expenditure out of the co-operative education fund shall be incurred without approval of the committee.
(3)The National Co-operative Union of India Limited, shall maintain this fund in a separate account [to be operated jointly by the Chief Executive of the National Co-operative Union of India Limited, New Delhi and an officer of the Central Government not below the rank of Director responsible for finance in the Department of Agriculture, Co-operation and Farmers Welfare authorized by the Central Government] [Inserted by Notification No. G.S.R. 567(E), dated 12.6.2018 (w.e.f. 2.12.2002)] and all income by way of interest or otherwise accruing from contribution towards this fund shall be credited to this fund.
(4)The balance in the fund, constituted under rule 4 of the Multi-State Co-operative Societies (Privileges, Properties and Funds, Accounts, Audit, Winding up and Execution of Decrees, Orders and Decisions) Rules, 1985, at the commencement of these rules shall be construed the fund as if constituted under these rules.
(5)The co-operative education fund shall be utilised for the purposes connected with the co-operative education and training and human resource development for co-operatives. The Committee may undertake the programmes of co-operative education and training and human resource development, through National Co-operative Union of India, National Council for Co-operative Training, contributing members or any other professionally qualified body as the Committee may decide.