State Act
42
Section 42. Financing bank not to have a claim on certain sums of money.
THE PUDUCHERRY CO-OPERATIVE SOCIETIES ACT, 1972
Act no. 7 of 19731973In forcePuducherry (State Act)
42. Financing bank not to have a claim on certain sums of money.- No financing bank shall have a charge upon or be entitled to set off towards any debt due from a registered society - (i) any sum invested by a registered society with it out of the reserve fund; or (ii) any sum invested with it by such society out of the provident fund established under section 72 or the gratuity established under section 73.