MCOS Act 43Chapter V · Duties of Registered Society
Section 43 · Power of Government to give financial assistance
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- Notwithstanding anything contained in any law for the time being in force, the Government of Meghalaya may grant loans to, take shares in guarantee the principal or the interest or goth in respect of debentures issued by, or give financial assistance in any other form to any registered society, which puts forward a satisfactory scheme for the utilisation of the funds so raised.The Government of Meghalaya may recover recall from any society out of its net profit in any year all or any part of such financial assistance in extent of mis-utilisation.
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