Section 54 in The Tamil Nadu Co-Operative Societies Act, 1983
54. Partnership of Government with apex society.
(1)An apex society which is provided with moneys by the Government under section 53 shall, with such moneys, 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 registered societies;(b)providing moneys to a registered society (hereafter in this Chapter referred to as the central society) to enable that society to purchase shares in other registered societies (hereafter in this Chapter referred to as the primary societies);(c)making payments to the Government in accordance with the provisions of this Chapter; and for no other purpose.
