Amendment status not verified — confirm the current text below against the official source.
Partnership of societies.— (1) Any two or more societies may, with the prior approval of the Registrar, by resolution passed by three-fourths majority of the members present and voting at a general meeting of each such society, enter into partnership for carrying out any specific business or businesses, provided that each member has had clear ten days' written notice of the resolution and the date of the meeting. (2) Nothing in the Indian Partnership Act, 1932, shall apply to such partnership. 20-A. Collaboration by societies.— (1) Any society or societies may, with the prior approval of the State Government, 2and subject to such terms and conditions as the State Government may impose and in such manner as may be prescribed,) enter into collaboration with any Government undertaking or any undertaking approved by the State Government for carrying on any specific business or businesses, including industrial investment, financial aid or marketing and management expertise. (2) Before approving any such scheme of collaboration by any society or societies under sub- section (1), the State Government shall have due regard to the following matters, namely : (a) that the scheme is economically viable; (b) that it can be implemented without, in any way, eroding the cooperative character of the society or the societies concerned; (c) That the scheme is in furtherance of the interests of the members of the society or a society concerned, or is in the public interest and in the interest of the co-operative movement in general.