PRESIDENT'S ASSENT TO NATIONAL COOPERATIVE DEVELOPMENT CORPORATION (AMENDMENT) BILL

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The President has given his assent to the National Cooperative Development Corporation (Amendment) Bill, 2002. With this, this Bill as passed by the Parliament during its Monsoon Session ending August 12, 2002, has been notified in the Gazette of India as Act No. 45 of the year 2002.

The National Cooperative Development Corporation (Amendment) Act, which amends the National Cooperative Development Corporation Act 1962, seeks to further broad base the activities of the Corporation. It provides for covering livestock and notified services among the activities of the Corporation, authorizing it to accept grants and donations from any agency in and outside India. In addition, the amendment empowers the Corporation to waive, in suitable cases, conditions of guarantee.