Section 14A(2) in Kerala Cooperative Societies Act, 1969
(2)Any subsidiary institution promoted under sub-section (1) shall exist only as long as the general body of the co-operative society deems its existence necessary:Provided that a co-operative society, while promoting such a subsidiary institution shall not transfer or assign its substantive part of business or activities undertaken in furtherance of its stated objects to such subsidiary institutions.Explanation. - For the purpose of this section, -(a)An institution shall be deemed to be a subsidiary institution where the co-operative society.(i)controls the management or board of directors or members of governing body of such institutions; or(ii)holds more than half in nominal value of equity shares of such institutions.(b)a subsidiary institution shall not include a partnership firm.
