Section 58 of MCS ACT 1960 : Disposal of share capital and dividend, etc.
58.Disposal of share capital and dividend, etc. (1) All moneys received by an Apex society in respect of shares of other societies purchase...
Friday, 7 October 2022
Section 57 of MCS ACT 1960 : Indemnity of Apex and Central societies.
57.Indemnity of Apex and Central societies (1) If a society in which shares are purchased from the Principal State Partnership Fund is woun...
Section 56 of MCS ACT 1960 : Restriction on amount of dividend
56.Restriction on amount of dividend An Apex society which has purchased shares in other societies from the moneys in the Principal State P...
Section 55 of MCS ACT 1960 : Liability to be limited in respect of certain shares
55.Liability to be limited in respect of certain shares Where any shares are purchased in a society by— (a)the State Government ; or (b)...
Section 54 of MCS ACT 1960 : Approval of State Government for purchase of shares
54.Approval of State Government for purchase of shares Shares shall not be purchased in a society from the moneys in the Principal State P...
Section 53 of MCS ACT 1960 : Subsidiary State Partnership Fund.
53. Subsidiary State Partnership Fund. (1) A Central society which is provided with moneys by an Apex society from the Principal State Part...
Section 52 of MCS ACT 1960 : Principal State Partnership Fund
52. Principal State Partnership Fund (1) An Apex society which is provided with moneys as aforesaid shall, with such moneys, establish a Fu...
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 so...
Section 50 of MCS ACT 1960 : Direct partnership of State Government in societies
50.Direct partnership of State Government in societies The State Government may subscribe directly to the share capital of a society with ...
Friday, 30 September 2022
Section 49 of MCS ACT 1960 : Deduction from salary to meet society’s claim in certain cases.
49.Deduction from salary to meet society’s claim in certain cases. (1) A member of a society may execute an agreement in favour of the soci...
