law: Co-Operative Societies Act, 1912
  34. Contribution to charitable purpose
  Any registered society may, with the sanction 
  
  of the Registrar, after one-fourth of the net profits in any year has been 
  
  carried to a reserve fund, contribute an amount not exceeding ten per cent. of 
  
  the remaining net profits to any charitable purpose, as defined in section 2 of 
  
  the Charitable Endowments Act, 1890 (6 of 1890).