Rule 25 - Contribution towards Cooperative Education Fund - Multi-State Cooperative Societies Rules, 2002

Contribution towards Cooperative Education Fund 25. (1) Every Multi-state cooperative society shall credit a sum calculated at one per cent, of its net profits every year as contribution to the cooperative education fund maintained by the National Cooperative Union of India Limited, New Delhi. The cooperative education fund shall be administered by a committee constituted by the Central Government for this purpose consisting of the following members: (i) The President of the National Cooperative Union of India Ltd., New Delhi-Chairperson (ii) The Central Registrar-Member (iii) The Financial adviser to the Department of Agriculture and Cooperation in the Ministry of Agriculture Member (iv) Two representatives of the multi-state cooperative societies to be nominated by the Central Government for every two years-Members (v) The Director General, National Council for Cooperative Training, New Delhi-Member (vi) The Director, Vaikunth Mehta National Institute of Cooperative Management, Pune-Member (2) No expenditure out of the cooperative education fund shall be incurred without approval of the committee. (3) The National Cooperative Union of India Limited, shall maintain this fund in a separate account 1 [ to be operated jointly by the Chief Executive of the National Co-operative Union of India Limited, New Delhi and an officer of the Central Government not below the rank of Director responsible for finance in the Department of Agriculture, Co-operation and Farmers Welfare authorized by the Central Government, ] and all income by way of interest or otherwise accruing from contribution towards this fund shall be credited to this fund. (4) The balance in the fund, constituted under rule 4 of the Multi-State Cooperative Societies (Privileges, Properties and Funds, Accounts, Audit, Winding up and Execution of Decrees, Orders and Decisions) Rules, 1985, at the commencement of these rules shall be construed the fund as if constituted under these rules. (5) The cooperative education fund shall be utilised for the purposes connected with the cooperative education and training and human resource development for cooperatives. The Committee may undertake the programmes of cooperative education and training and human resource development, through National Cooperative Union of India, National Council for Cooperative Training, contributing members or any other professionally qualified body as the Committee may decide. ********** Notes 1. Inserted vide Notification No. G.S.R. 567(E) dated 12-06-2018