Act Number: 37

Act Name: The Food Corporations Act, 1964

Year: 1964

Enactment Date: 1964-12-10

Long Title: 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.

Ministry: Ministry of Consumer Affairs, Food and Public Distribution

Department: Department of Food and Public Distribution

Section 18: Capital of State Food Corporation.
    (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.
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