(1) All moneys received by an apex society in respect of shares of other co-operative societies purchased from the money in the ‘Principal Government Partnership Fund’ on redemption of such shares or by way of dividend or otherwise shall be credited to that fund.
(2) All moneys received by the central society in respect of shares of primary societies purchased from the money in the ‘Subsidiary Government Partnership Fund’ on redemption of such shares or by way of dividends or otherwise, shall in the first instance be credited to that fund and then transferred to the apex society which shall credit them to the “Principal Government Partnership Fund”.
(3) All moneys and dividends referred to in sub-section (1) and subsection (2) shall notwithstanding that the shares stand in the name of the apex society or the central society, as the case may be, be paid to the Government.
(4) Save as provided in sub-section (3) the Government shall not be entitled to any other return on the money provided by it to the apex society under section 44.
(2) All moneys received by the central society in respect of shares of primary societies purchased from the money in the ‘Subsidiary Government Partnership Fund’ on redemption of such shares or by way of dividends or otherwise, shall in the first instance be credited to that fund and then transferred to the apex society which shall credit them to the “Principal Government Partnership Fund”.
(3) All moneys and dividends referred to in sub-section (1) and subsection (2) shall notwithstanding that the shares stand in the name of the apex society or the central society, as the case may be, be paid to the Government.
(4) Save as provided in sub-section (3) the Government shall not be entitled to any other return on the money provided by it to the apex society under section 44.
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Next · Section 52Disposal of Principal Government Partnership Fund and Subsidiary Government Partnership Fund on winding up of an apex or a central society. →All sections / सभी धाराएँTHE JAMMU AND KASHMIR CO-OPERATIVE SOCIETIES ACT, 1989 →
More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · The Registrar.Section 4 · Societies which may be registered.Section 5 · Application for registration of Co-operative Societies.Section 6 · Registration.Section 7 · Registration certificate.Section 8 · Registration with limited or unlimited liability.India Code, Government of India. Text fetched 11 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.