Section 135 in The U.P. Co-operative Societies Rules, 1968
135. [ [Substituted by Notification No. 395/XLIX-1-10-8(111)-08, dated 24-3-2011.]
The State Government shall determine the quantum of State participation in the capital of a co-operative society or class of co-operative societies. Ordinarily, it shall not be more than fifty per cent of the subscribed share capital of the society. It may be sixty per cent or more of the subscribed share capital of the society-in case of co-operative sugar factories, spinning and weaving mills, milk producers societies, union of such societies or federation of such unions, and in co-operative societies setting up cold storage or undertaking processing activities or such other industrial activities which, in the opinion of the State Government, require liberal State participation in the share capital of the society:Provided that in the co-operative banks and primary agricultural cooperative credit societies, the State Government shall not invest more than twenty-five per cent of the subscribed capital of the society. Where it is more than twenty-five per cent, the State Government shall bring down it to twenty-five per cent or less and the rest of the share capital shall be converted into grant to the society.]
