Section 35
Accounts, AUDIT, INSPECTION AND INQUIRY. (SNO. A.A.374/95)
of Co-Operative Societies Act 1948
ActRepealedProvision 35 of 53
Section 35
(1)
The Registrar shall audit or cause to be audited by some person authorised by him by general or special order in writing the accounts of every registered society once at least in every year.
(2)
Any registered society may, with the sanction of the Registrar, after one-fourth of the net profits in any year has been carried to a reserve fund, contribute an amount not exceeding ten per centum of the remaining net profits to any charitable purpose or to a common-good fund.