25. Contribution towards Cooperative Education Fund
(1) Every multi-state cooperative society shall credit a sum calculated at one percent 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 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.