Multi-State Co-Operative Societies Act, 2002
Section - 48 - Nominee of Central Government or State Government on board
Nominee of Central Government or State Government on board48. (1) Where the Central Government or a State Government has subscribed to the share capital of a multi-State co-operative society, the Central Government or the State Government, as the case may be, or any person authorised by the Central Government or the State Government shall have right to nominate on the board such number of persons as its members on the following basis, namely:-
| (a) | - | where the total amount of issued equity share capital held by the Central Government or the State Government is less than twenty-six per cent of the total issued equity share capital, one member of the board; |
| (b) | - | where the total amount of issued equity share capital held by the Central Government or the State Government is twenty-six per cent or more but less than fifty-one per cent of the total issued equity share capital, two members of the board; |
| (c) | - | where the total amount of issued equity share capital held by the Central Government or the State Government is fifty-one per cent. or more of the total issued share capital .... To read the full section download the app from Google Play store
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