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Rule 4
Conditions for formation of a specialized cooperative society and its operation
: (1) While forming a specialized cooperative society, the following conditions and restrictions should be fulfilled:- (a) The joint share capital of the applicant organizations should be at least fifteen million rupees,
(b) Applicant Institutions: The combined institutional capital should be at least three crore rupees,
(c) The share capital of the association purchased by the applicant organizations should be at least one crore rupees,
(d) The applicant organizations should not have incurred losses.
(2) Sub-rule: According to Clause (c) of (1), the amount of shares to be purchased by the applicant organization shall be purchased only from the reserve fund and share capital, maintaining a ratio of at least one equal to fifteen between the organization's primary capital fund and savings.
(3) The operating procedure of the specialized cooperative association will be as follows:-
(a) To do only the purpose for which the cooperative association was formed,
(b) Before carrying out business, business, industry or project of a classified cooperative association, it should be carried out only if approval, approval or license is required according to the prevailing law.
(4) In making a specialized cooperative association, self-employment and contribution to the value chain can also be formed on the basis of storage, processing, marketing and exporting of goods.
(b) Applicant Institutions: The combined institutional capital should be at least three crore rupees,
(c) The share capital of the association purchased by the applicant organizations should be at least one crore rupees,
(d) The applicant organizations should not have incurred losses.
(2) Sub-rule: According to Clause (c) of (1), the amount of shares to be purchased by the applicant organization shall be purchased only from the reserve fund and share capital, maintaining a ratio of at least one equal to fifteen between the organization's primary capital fund and savings.
(3) The operating procedure of the specialized cooperative association will be as follows:-
(a) To do only the purpose for which the cooperative association was formed,
(b) Before carrying out business, business, industry or project of a classified cooperative association, it should be carried out only if approval, approval or license is required according to the prevailing law.
(4) In making a specialized cooperative association, self-employment and contribution to the value chain can also be formed on the basis of storage, processing, marketing and exporting of goods.