Section 5(3) in The State Agricultural Credit Corporations Act, 1968
(3)Out of the capital issued under sub-section (2),-(a)in the case of a Corporation established in a State, the Central Government shall subscribe for thirty per cent. of the share capital, and in the case of a Corporation established in a Union territory, the Central Government shall subscribe for fifty per cent. of the share capital;(b)the Reserve Bank shall subscribe for twenty per cent. of the share capital;(c)in the case of a Corporation established in a State, the State Government shall subscribe for twenty per cent. of the share capital:(d)the Food Corporation, State Bank, subsidiary banks [corresponding new banks] [Inserted by Act 5 of 1970, Section 20 (w.e.f. 19-7-1969)] and banking companies may subscribe for, in the aggregate, thirty per cent, of the share capital:Provided that none of the said parties shall subscribe for more than fifteen per cent of the share capital.
