Section 50. Indemnity of apex and central societies

(1) If a Co-operative Society in which shares are purchased from the “Principal Government Partnership Fund” is wound up, or is dissolved, the Government shall not have any claim against the apex society which purchased the shares in respect of any loss arising from such purchase ; but the Government shall be entitled to any money received by the apex society in liquidation proceedings or on dissolution as the case may be. (2) If a co-operative society in which shares are purchased from the “Subsidiary Government Partnership Fund” is wound up or is dissolved, neither, the Government nor the apex society shall have any claim against the central society which purchased the shares in respect of any loss arising from such purposes ; but the apex society shall be entitled to any money received by the central society in liquidation proceedings or on dissolution, as the case may be, and such money shall be credited to the “Principal Government Partnership Fund”.