Section 18
Capital of State Food Corporation.
The Food Corporations Act, 1964
About this Act
An Act to provide for the establishment of Food Corporations for the purpose of trading in foodgrains and other foodstuffs and for matters connected therewith and incidental thereto.
(1) The Capital of a State Food Corporation shall be such
sum not exceeding ten crores of rupees as the Central Government may, after consultation with the Food
Corporation of India, fix.
(2) The Central Government may, after such consultation, from time to time, increase the capital of the State Food Corporation to such extent and in such manner as that Government may determine.
(3) Such capital shall be provided--
(a) by the Central Government after due appropriation made by Parliament by law for the purpose, and
(b) by the Food Corporation of India,
in such proportion and subject to such terms and conditions as may be determined by the Central Government.
(2) The Central Government may, after such consultation, from time to time, increase the capital of the State Food Corporation to such extent and in such manner as that Government may determine.
(3) Such capital shall be provided--
(a) by the Central Government after due appropriation made by Parliament by law for the purpose, and
(b) by the Food Corporation of India,
in such proportion and subject to such terms and conditions as may be determined by the Central Government.