Vote and manner of its exercise

Vote and manner of its exercise:— [Rule 18]

1. (1) [Subject to such rules as may be made in this behalf, every member] shall have one vote in the affairs of the society and shall exercise his vote in person and not by proxy : [ Provided that no member of a society belonging to such class of societies and who failed to transact such minimum business or utilise such minimum services or facilities as may be prescribed taking into consideration the nature of business transacted or the services or facilities made available by the society, shall have the right to stand as a candidate or to vote in any election to the society.] (1-A) A member of a society shall be eligible to exercise the right to vote only if he:
   • (a) contributes a minimum share capital as may be prescribed.
   • (b) [xxx]
   • (c) [is a member of the society for a continuous period as may be prescribed.]
   • (d) is not in default in the payment of any amount due in cash or kind to the society for such period as may be prescribed.
2. (2) [xxx]Every person nominated to the committee by the Government or where the financing bank is a member, every person representing such financing bank, shall have one vote : Provided that no nominee of the Government or the representative of the financing bank, as the case may be, [shall be entitled] to participate in, or vote at any election.
3. (3) In the case of equality of votes, the chairman of the meeting shall have a second or casting vote.
4. (4) [xxx]