Section 53 in The Gujarat Co-Operative Societies Act, 1961
53. Principal State Partnership Fund.
(1)An Apex society shall, with the moneys provided under Section 52 establish a Fund to be called the "Principal State Partnership Fund".(2)An Apex society shall utilise the Principal State Partnership Fund for the purpose of-(a)directly purchasing shares in other societies with limited liability;(b)providing moneys to a society to enable that society (hereinafter in this Chapter referred to as a "Central society") to purchase shares in other societies with limited liability (the latter societies being hereinafter in this Chapter referred to as "Primary societies");(c)making payments to the State Government in accordance with the provisions of this Chapter;and for no other purpose.
