Section 63 of MCS ACT 1960 : Provisions of this Chapter to override other laws
63.Provisions of this Chapter to override other laws The provisions of sections 51 to 61 (both inclusive) in this Chapter shall have effect...
Showing posts with label MCS ACT 1960. Show all posts
Showing posts with label MCS ACT 1960. Show all posts
Friday 7 October 2022
Section 62 of MCS ACT 1960 : Other forms of State aid to societies
62.Other forms of State aid to societies Notwithstanding anything contained in any law for the time being in force, but subject to such cond...
Section 61 of MCS ACT 1960 : Agreement by State Government and Apex societies
61.Agreement by State Government and Apex societies Subject to the foregoing provisions of this Chapter— (a) the State Government ma...
Section 60 of MCS ACT 1960 : Principal or Subsidiary State Partnership Fund not to form part of assets
60.Principal or Subsidiary State Partnership Fund not to form part of assets Any amount to the credit of a Principal State Partnership Fund ...
Section 59 of MCS ACT 1960 : Disposal of Principal or Subsidiary State Partnership Fund on winding up of Apex or Central society
59.Disposal of Principal or Subsidiary State Partnership Fund on winding up of Apex or Central society (1) If an Apex society which has est...
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...
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...
Section 48A of MCS ACT 1960 : Deductions from sale price of certain agricultural produce to meet society’s dues.
48A. Deductions from sale price of certain agricultural produce to meet society’s dues. (1) Where a loan has been advanced by any society i...
Section 48 of MCS ACT 1960 : Charge on immovable property of members borrowing from certain societies
48.Charge on immovable property of members borrowing from certain societies Notwithstanding anything contained in this Act or in any other l...
Section 47 of MCS ACT 1960 : Prior claim of Society
47.Prior claim of Society (1) Notwithstanding anything in any other law for the time being in force, but subject to any prior claim of Gover...
Section 46 of MCS ACT 1960 : Charge and set-off in respect of share or interest of member.
46.Charge and set-off in respect of share or interest of member. A society shall have a charge upon the share or interest in the capital, a...
Section 45 of MCS ACT 1960 : Restrictions on other transactions with non- members.
45.Restrictions on other transactions with non- members. Save as is provided in this Act, the transactions of a society with persons other t...
