(1)

An Apex society shall, with the moneys provided under Section 52 establish a Fund to be called the "Principal State Partnership Fund ".

(2)

An Apex society shall utilise the Principal State Partnership Fund for the purpose of-

(a) directly purchasing shares in other societies with limited liability;

(b) providing moneys to a society to enable that society (hereinafter in this Chapter referred to as a "Central society ") to purchase shares in other societies with limited liability (the latter societies being hereinafter in this Chapter referred to as "Primary societies ");

(c) making payments to the State Government in accordance with the provisions of this Chapter;