Amendment status not verified — confirm the current text below against the official source.
Power of Government to give financial assistance: Notwithstanding anything contained in any other law for the time being in force, the State Government may on the request of the Co-operative Society, supported by a resolution passed by the General Assembly of the Co-operative Society, grant loans to take shares or guarantee the principal or the interest or both in respect of debentures issued by any co-operative society or give financial assistance in any otherform to any registered society which puts forward a satisfactory scheme for the utilization of the funds so raised, the State Government may recover from any society out of its net profit in anyyear all L..3ny or any part of such financial assistance. CHAPTER-VI: REGULATION OF CO-OPERATIVES (Audit inquiry, inspection and surcharge)