Section 55 in Sikkim Co-Operative Societies Act, 1978
55. State aid to societies.
- Notwithstanding anything contained in any law for the time being in force, the Government may(a)subscribe to the share capital of a society;(b)give loans or make advances to societies;(c)guarantee the repayment of principal and payment of interest on debentures or bonds issued by a society;(d)guarantee the repayment .of share capital of a society and dividends thereon at such rates as may be specified by the Government;(e)guarantee the repayment of principal and payment of interest on loans and advances to a society; and(f)give financial assistance in any other form, including subsidies, to any society.
