Section 59 in The Gujarat Co-Operative Societies Act, 1961
59. Disposal of share capital and dividend etc.
(1)All moneys received by an Apex society in respect of the redemption of shares of other societies purchased out of the moneys in the Principal State Partnership Fund, or by way of dividends or otherwise or by way of interest, dividend or otherwise on the balance of that fund shall be credited to that Fund.(2)All moneys received by a Central society in respect of the redemption of shares of Primary societies purchased out of the moneys in the Subsidiary State Partnership Fund, or by way of dividends or otherwise or by way of interest, dividend or otherwise on the balance of that Fund, shall in the first instance be credited to that Fund, and then transferred to the Apex society which shall credit them to the Principal State Partnership Fund.(3)All moneys and dividends referred to in sub- sections (1) and (2) shall, notwithstanding that the shares stand in name of the Apex society or the Central society, as the case may be, be paid to the State Government.(4)Save as provided in sub-section (3), the State Government shall not be entitled to any other return on the moneys provided by it to an Apex society under Section 52.
