State Act

THE UTTAR PRADESH CO-OPERATIVE SOCIETIES ACT, 1965

45. Principal State partnership Fund (1) An apex society which is provided with moneys by the State Government under section 44 shall, with such money, establish a Fund to be called the "Principal State Partnership Fund". (2) An apex society shall utilize the Principal State Partnership Fund for the purpose of- (a) directly purchasing shares in other co-operative societies with limited liability ; (b) providing moneys to a co-operative society which includes in its membership other co-operative societies, to enable that society 1[ X X X ] to purchase shares in other affiliated co-operative societies with limited liability (hereinafter in this Chapter referred to as primary societies) ; (c) making payments to the State Government in accordance with the provisions of this Chapter ; (d) making such other payments as may be permitted by the State Government after the requirements in sub-clauses (a), (b) and (c) have been met in full and for no other purpose.