Insertion of chapter IVA after chapter IV of the Act VI, 1935

“CHAPTER IV A.

Annual General Meeting and Annual Returns of the Co-operative Society

32A. Annual General Meeting.- (1) Board of every Co-operative Society shall convene Annual General Meeting within six months from the closure of every financial year, which shall deal with all or any of the matter listed below except those in relation to the election of members and Office-bearer of the Board:-

(a) Consideration of the Annual Statement of Accounts presented by the Board for being filed before the Registrar,

(b) consideration of Annual Report presented by the Board,

(c) appointment and removal of Statutory Auditors and Internal Auditors,

(d) consideration of the auditor’s report and audited Statement of Accounts for being filed with the Registrar,

(e) consideration of audit/special audit compliance report,

(f) report on action taken on inquiry report, if any,

(g) disposal of net surplus,

(h) review of operational deficit, if any,

(i) approval of the long term perspective plan and the annual operational plan,

(j) approval of the annual budget,

(k) creation of specific reserves and other funds,

(l) review of actual utilization of reserve and other funds,

(m) report on membership of the Co-operative Society in other Co-operative Societies,

(n) appeal of a person whose application for membership has been rejected or whose membership has been terminated by the Board,

(o) remuneration payable to any Director, Auditor or Internal Auditor in connection with his duties in that capacity or his attendance at related meeting,

(p) membership of the Co-operative Society in Union/Federation,

(q) collaboration with other organisation,

(r) amendment of Bye-laws,

(s) formulation of code of conduct for the Directors and Office-bearers,

(t) note on admission and termination of membership of the members,

(u) dissolution of the Co-operative Society,

(v) such other functions specified in the Bye-laws.

(2) In accordance with the provisions for the works specified, under sub-section (1), the Annual General Meeting of the Co-operative Society shall be held at a time, date and place notified in accordance with the Bye-laws and if a quorum is present, the Chairman of the Co-operative Society shall preside the meeting;