Section 118(3) in Jammu and Kashmir Co-Operative Societies Act, 1989
(3)The Government may, after consulting the Board and trustee(a)by notification in the Government Gazette; and(b)by notice of not less than fourteen days in such of the principal newspapers in the State and other States in India as the Government may select in this behalf;discontinue any guarantee given by it or restrict the maximum amount thereof or modify the conditions subject to which it is given, with effect from a specified date, not being earlier than six months from the date of publication of the notification in the Government Gazette :Provided that the withdrawal, restriction or modification of any guarantee under this sub-section shall not in any way affect the guarantee carried by the debentures issued prior to the date on which such withdrawal, restriction or modification take effect.
