Amendment status not verified — confirm the current text below against the official source.
(1) If a society in which shares are purchased from the Principal State Partnership Fund is wound up, or is dissolved the Central Government shall not have any claim against the Apex Society which purchased the shares in respect of any loss arising from such purchase but the Central Government shall be entitled to any moneys received by the Apex Society in liquidation proceedings or on dissolution as the case may be. (2) If a society in which shares are purchased from the Subsidiary State Partnership Fund is wound up or dissolved neither the Central Government nor the Apex Society shall have any claim against the Central Society which purchased the shares in respect of any loss arising from such purchase ; but the Apex Society shall be entitled to any moneys received by Central Society in liquidation proceedings or on dissolution as the case may be and such money shall be credited to the Principal State Partnership Fund.