Section 55 in Jammu and Kashmir Co-Operative Societies Act, 1989
55. Other forms of Government aid to co-operative societies.
- Notwithstanding anything contained in any law for the time being in force the Government may,(a)give loans or make advances to co-operative societies;(b)guarantee the repayment of principal and payment of interest on debentures issued by a co-operative society;(c)guarantee the repayment of share capital of a co-operative society and dividends thereon at such rates as may be specified by the Government;(d)guarantee the repayment of principal and payment of interest on loans and advances to a co-operative society; and(e)give financial assistance in any other form including subsidies, to any co-operative society.
