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Saturday, 22 October 2022

Section 144-26A of MCS ACT 1960 : Contribution to the Fund by the Societies

Section 144-26A : Contribution to the Fund by the Societies

(1)Every non-agricultural co-operative credit society shall contribute annually or otherwise towards the Stabilization and Liquidity Support Fund at such rate and in such manner as may be notified by the Regulatory Board in the Official Gazette, from time to time.

(2)No portion of the contribution once made shall be refunded to any non-agricultural co-operative credit society for any reason.