Section 90 in Tamil Nadu Co-operative Societies Rules, 1988
90. Co-operative research and development fund.
(1)(a)Any sum to be contributed to the co-operative research and development fund (hereinafter in this rule referred to as the research and development fund) shall be remitted by the society concerned to the co-operative union of which it is a member, within one month from the date of receipt of the audit memorandum. Every district cooperative union to which any sum is remitted under this rule shall, within a period of thirty days from the date of receipt thereof, remit ninety per cent of the amount so received to the Tamil Nadu Cooperative Union to the credit of the research and development fund. The remaining ten per cent of the said amount shall be credited to the general fund of the district co-operative union concerned.(b)The amount standing to the credit of the research and development fund with the Tamil Nadu Co-operative Union shall be invested separately in the Tamil Nadu State Co-operative Bank or in any financing bank, as the Registrar may direct.(2)The research and development fund shall not be utilised for any purpose other than the following purposes, namely:-(i)research to improve co-operative movement or of any class or category of societies;(ii)development of the co-operative movement or of any class or category of societies;(iii)undertaking research oriented consultancy by the societies; and(iv)any activity incidental or ancillary to the purposes, aforesaid.(3)[ (a) The research and development fund shall be administered by a Committee consisting of the following persons, namely:-.(i)the Registrar of Co-operative Societies, [Chennai] ex-officio, shall be the President of the committee;(ii)the President of the Tamil Nadu Co-operative Union, Chennai shall be the Vice-President of the committee;(iii)every functional Registrar, namely, every Head of the Department exercising the powers of the Registrar under the Act or these rules;(iv)the President of the Tamil Nadu State Co-operative Bank, [Chennai] [Substituted for the word 'Madras' by the City of Madras (Alteration of Name) Act, 1996 (Tamil Nadu Act 28 of 1996).];(v)the Presidents of four Apex societies, other than the Tamil Nadu State Co-operative Bank and the Tamil Nadu Co-operative Union, nominated by the Government in rotation.(b)The Managing Director, the Tamil Nadu Co-operative Union, shall be the ex-officio Secretary of the committee, without a seat on the committee;(c)the term of office of the members of the committee shall be three years;(d)the quorum for the meeting of the committee shall be seven;(e)the Committee shall meet at least once in every three months for which a notice of not less than three clear days shall be given;(f)The Tamil Nadu Co-operative Union shall maintain the research and development fund in accordance with the regulations framed by the committee with the approval of the Registrar and shall place before the committee, the particulars of the amount credited to, and the expenditure incurred from, the research and development fund during the previous quarter at its next meeting.]
