State Act
56
Section 56. Liability to be limited in respect of certain shares.
THE PUDUCHERRY CO-OPERATIVE SOCIETIES ACT, 1972
Act no. 7 of 19731973In forcePuducherry (State Act)
56. Liability to be limited in respect of certain shares.- Where shares are purchased in a registered society by- (a) the Government; or (b) an apex society or a central society from the Principal State Partnership Fund or the Subsidiary State Partnership Fund, as the case may be; the liability in respect of such shares shall, in the event of the registered society being wound up, be limited to the amount paid in respect of such shares.