Amendment status not verified — confirm the current text below against the official source.
Disposal of share capital and dividend etc.—(1) All moneys received by an apex society in respect of shares of other co-operative societies purchased from the money in the ‘Principal Government Partnership Fund’ on redemption of such shares or by way of dividend or otherwise shall be credited to that fund. (2) All moneys received by the central society in respect of shares of primary societies purchased from the money in the ‘Subsidiary Government Partnership Fund’ on redemption of such shares or by way of dividends or otherwise, shall in the first instance be credited to that fund and then transferred to the apex society which shall credit them to the “Principal Government Partnership Fund”. (3) All moneys and dividends referred to in sub-section (1) and sub- section (2) shall notwithstanding that the shares stand in the name of the apex society or the central society, as the case may be, be paid to the Government. (4) Save as provided in sub-section (3) the Government shall not be entitled to any other return on the money provided by it to the apex society under section 44.