Section 59 in Multi State Co-Operative Societies Act, 1984
59. Government aid to Multi-State Cooperative Societies.
- Notwithstanding anything contained in any law for the time being in force, the Central Government or a State Government may, with a view to promoting co-operative movement :-(a)subscribe to the share capital of a multi-State co-operative society;(b)give loans or make advances to a multi-State co-operative society;(c)guarantee the repayment of principal and payment of interest of debentures issued by a multi-State co-operative society;(d)guarantee the repayment of share capital of a multi-State co-operative society and dividends thereon at such rates as may be specified by the Central Government or the State Government;(e)guarantee the repayment of principal and payment of interest on loans and advances to a multi-State co-operative society.(f)give financial assistance in any other form, including subsidies to any multi-State cooperative society.
