53. Subsidiary State Partnership Fund.
(1) A Central society which is provided with moneys by an Apex society from the Principal State Partnership Fund shall, with such moneys, establish a Fund to be called the “ Subsidiary State Partnership Fund ”.
(2)A Central society shall utilise the Subsidiary State Partnership Fund for the purpose of
(a)purchasing shares in Primary societies ;
(b)making payments to the Apex society in accordance with the provisions of this Chapter ;and for no other purpose.
