Section 61 in The Multi-State Co-Operative Societies Act, 2002
61. Government aid to multi-State co-operative societies.—
Notwithstanding anything contained in any law for the time being in force, the Central Government or a State Government, on receipt of request from a multi-State co-operative society and with a view to promoting co-operative movement, may,—(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 on 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 co-operative society; and(g)provide aid to any other multi-State co-operative society on such terms and conditions as may be prescribed.
