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Friday 7 October 2022

Section 51 of MCS ACT 1960 : Indirect partnership of State Government in societies

51.Indirect partnership of State Government in societies

The State Government may, under appropriation made by law, provide moneys to a society for the purchase directly or indirectly, of shares in other societies with limited liability. (A society to which money are so provided for the aforesaid purpose is hereinafter in this Chapter referred to as an “ Apex society.”)