Amendment status not verified — confirm the current text below against the official source.
12[(1)] The State Government may subscribe directly to the share capital of a society with Limited liability: 12a[Provided that in the case of societies in the co-operative credit structure, the Stale Government shall not subscribe for more than twenty-five per cent, of the total share capital and the State Government or the society shall have the option to reduce the share capital contributed by the State Government.] IV of 1936. Direct partnership of State Government in societies. 1962: Guj. X] Gujarat Co-operative Societies Act, 1961 13[(2) The share capital subscribed by the State Government under sub-section (1) shall not be returned to the State Government by a society except with the previous sanction of the Government.]