Section 68(2) in The West Bengal Co-Operative Societies Act, 1983
(2)Subject to such conditions as may be prescribed, the balance of the net profit in a co-operative year together with the undistributed net profit, if any, of the previous year may, to such extent and under such conditions as may be prescribed, be utilised for all or any of the following purposes:-(a)payment of dividend to members on their paid up share capital at a rate not exceeding twelve per cent.;(b)contribution to such special funds as may be prescribed or as may be provided in the by-laws;(c)contribution of any amount not exceeding ten per cent, of the net profit in a co-operative year for any charitable purpose as defined in section 2 of the Charitable Endowments Act, 1890 or for such other purposes as may be prescribed.
