52. Principal State Partnership Fund
(1) An Apex society which is provided with moneys as aforesaid shall, with such moneys, establish a Fund to be called the “ Principal State Partnership Fund”.
(2)An Apex society shall utilise the Principal State Partnership Fund for the purpose of—
(a)directly purchasing shares in other societies with limited liability ;
(b)providing moneys to a society to enable that society (hereinafter in this Chapter referred to as a “ Central society ”) to purchase share in other societies with limited liability (the latter societies being hereinafter in this Chapter referred to as “ Primary societies ”) ;
(c)making payments to the State Government in accordance with the provisions of this Chapter ;and for no other purpose.
