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[Cites 0, Cited by 0] [Section 98] [Entire Act]

State of Tamilnadu - Subsection

Section 98(1) in Tamil Nadu Co-operative Societies Rules, 1988

(1)Every society, after appropriation under clauses firstly to seventhly of sub-section (2) of section 72, shall contribute towards the common good fund the remainder of the net profits subject to the maximum of ten per cent of its net profits for being utilised on any of the charitable purposes including relief to the poor, education, medical relief and the advancement of any other object of general public utility, but excluding a purpose which relates exclusively to religious teaching or worship:Provided that the common good fund shall not be utilised for the objects referred to in this sub-rule in respect of any sum exceeding [rupees ten thousand in the case of a primary society and-rupees twenty-five thousand in the case of a central or an apex society] without the prior approval of the Registrar.