Section 53
Section 53 of DCS Act 2003. No part of the funds other than net profits of a co-operative society shall be divided by way of bonus or dividend or otherwise distributed among its members : Provided that after at least one-fourths of the net profits in the year has been carried to the reserve fund, payments from the remainder of
No part of the funds other than net profits of a co-operative society shall be divided by way of bonus or dividend or otherwise distributed among its members :
Provided that after at least one-fourths of the net profits in the year has been carried to the reserve fund, payments from the remainder of such profits and from any profits of past years available for distribution may be made to the member to such extent and under such conditions as may be prescribed by the rules or bye-laws. Contribution to charitable purpose.
Section 53, DCS Act 2003 (Act 149 of 2005).
Questions about Section 53
How do I find court cases under Section 53 of the DCS Act 2003?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: DCS Act 2003 53, section 53 DCS Act 2003, section 53 of the DCS Act 2003. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
When was the DCS Act 2003 enacted?
DCS Act 2003 was enacted in 2005 as Act 149 of 2005. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Read from the Government's own scanned gazette with Azure Document Intelligence, then split into sections by their numbering. India Code publishes no text for this Act. The scan itself is mirrored into our own storage and served at /scan/4c99366d-b957-4634-8735-6142d42775da.pdf, so the reading here can be checked against the page it came from without depending on India Code's own copy staying where it is (it was at https://indiacode.gov.in/server/api/core/bitstreams/7166f74d-c446-46c6-8fc8-31f498cb3330/content). This page is not a substitute for legal advice.