Amendment status not verified — confirm the current text below against the official source.
Inserted with marginal heading by Act No.22 of 2001. Funds other than net profits not to be divided among members. Constitution and utilisation of Cooperative Education Fund. [Act No.7 of 1964] 87 (3) The cooperative education fund shall be administered and utilised by the Registrar on the advice of a committee constituted for the purpose in the manner prescribed: Provided, that not less than 20% of the cooperative education fund contributed by the societies in a year shall be utilised towards the training of officers of the societies concerned: Provided further, that not less than 50% of the cooperative education fund contributed by the societies shall be utilised on member education programmes in a year.]