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PURPOSES
FOR WHICH A SOCIETY CAN BE FORMED
A society
can be formed for the promotion of literature, science or the fine
arts or the diffusion of useful knowledge/political education or
for charitable purposes. Section 20 of the principal Act specifies
the following purposes for which societies may be registered under
the Act:
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Grant of charitable
assistance
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Creation of Military
orphan funds
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Societies established
at the General Presidencies of India
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Promotion of
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Science,
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Literature,
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Fine Arts,
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Instructions or diffusion
of useful knowledge,
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Diffusion of political
education,
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Foundation or maintenance
of libraries or reading rooms,
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Public museum and
galleries of paintings,
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Works of Act,
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Collections of natural
history,
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Mechanical and philosophical
inventions,
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Instruments,
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Designs
FORMATION
FOR PROFIT MOTIVE PROHIBITED
For
a society registered under Societies Registration Act, 1860 or under
the Section 25 of Companies Act, profit motive for personal use
is disentitled. Whatever profit is made through the working
of such a society, is accountable for, and is necessary to put
back the profit in the working of such a society. The Companies
Act under section 25 also prohibits any payment of any dividends
of its members as part of profit earned.
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