Section 45 in The U.P. Co-operative Societies Act, 1965
45. Principal State Partnership Fund.
(1)An apex society which is provided with moneys by the State Government under Section 44 shall with such money establish a Fund to be called the Principal State Partnership Fund(2)An apex society shall utilize the Principal State Partnership Fund for the purpose of-(a)directly purchasing shares in other co-operative societies with limited liability;(b)providing moneys to a Co-operative Society which includes in its membership other Co-operative societies, to enable that society [* * *] [Omitted by U.P. Act No.12 of 1976, vide Section 17 for 'hereinafter in this chapter referred to as central society' (w.e.f. 30-10-1975.)] to purchase shares in other affiliated Co-operative societies with limited liability (hereinafter in this Chapter referred to as Primary Societies) ;(c)making payments to the State Government in accordance with the provisions of this Chapter;(d)making such other payment as may be permitted by the State Government after the requirements in sub-clauses (a), (b) and (c) have been met in full, and for no other purpose.
