Provided further that the other above proviso shall not apply to the promoter, member in the first year of registration of a Co-operative Society.

General Body -(1) Subject to the provisions of this Act and the bye-laws, the ultimate authority of a Co-operative Society shall vest on its general body: Provided that where, because of spread of number of members, a Co- operative Society feels the need for constituting a Representative General body for more effective decision making, it may constitute a Representative General body in such manner and with such functions as may be specified in the bye- laws.

1. (2) The following matters, among others specified in the bye-laws shall be dealt with by the general body of a Co-operative Society, namely:- (a)amendments to bye-laws; (b)election and removal of Directors; (c)consideration of,- (1)the long term perspective plan and budget; (2)the normal operational plan and budget; (3)the annual report of activities for being filed with the Registrar; (4)the auditor's report and the annual audited statement of accounts for being filed with the Registrar; (5)special audit report or inquiry report, if any; (6)compliance report relating to audit, special audit and/or inquiry, if any; (d)approval of appointment and removal of auditors; (e)disposal of surplus; (f)management of deficit; (g)creation of specific reserves and other funds;
   • (h) review of actual utilisation of reserves and other funds;
     • (i) review of the Chief executive’s report of the attendance at meeting by Directors and review of the business done with the Co-operative Society by the Directors;
   • (j) appointment, reconstitution and disbanding on the Representative General body;
   • (k) remuneration payable to any Director or internal auditor in connection with his duties in that capacity or his attendance at related meetings;
   • (l) membership of the Co-operative Society in federation;
   • (m) collaboration with other organisation and its review;
   • (n) promotion of subsidiary organisations and review;
   • (o) dissolution of the Co-operative Society; and
   • (p) all other functions expected of the general body under the other provisions of this Act.