Raising of Funds

The funds of the Society may be raised in one or more of the following ways:—

(i) by entrance fees;

(ii) by issue of shares and collection of share capital;

(iii) by contributions, service charges, maintenance charges and other charges levied from Members for maintenance, repairs, common services and other purposes, in accordance with the provisions of the Act, the Rules and Government directions issued from time to time;

(iv) by deposits received from Members and, where permissible, from non-members, in accordance with the provisions of the Act and the Rules;

(v) by loans raised from co-operative banks, including the District Central Co-operative Bank, or from any other financial institution or agency permitted under the Act and the Rules;

(vi) by grants, subsidies or financial assistance from the Government, local authority or any other lawful source, and by voluntary donations, provided that— (a) such donations shall not be collected as a condition for— (i) admission of a Member; (ii) transfer of shares and interest in the Society; or (iii) grant of any permission/NOC, approval or consent by the Society; (b) such donations shall be made voluntarily and without any coercion; and (c) such donations shall be duly accounted for and reflected in the books of the Society;

(vii) by transfer fees, premium, non-occupancy charges, parking charges, interest on dues, penalties and such other charges as may be levied in accordance with the provisions of the Act, the Rules and Government directions;

(viii) by income derived from the property of the Society, including use of common areas and facilities, amenities, services, installations or any other lawful use permitted under the Act and the Rules;

(ix) by contributions to various funds of the Society as provided under these bye-laws and the Rules;

(x) by any other lawful means, with the approval of the General Body and in accordance with the provisions of the Act and the Rules.